Fortive Corporation (FTV) Stake Lowered by Hugh Johnson Advisors LLC
Hugh Johnson Advisors LLC reduced its holdings in Fortive Corporation (NYSE:FTV) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,396 shares of the technology company’s stock after selling 274 shares during the quarter. Hugh Johnson Advisors LLC’s holdings in Fortive Corporation were worth $1,102,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Hutchens Investment Management Inc boosted its holdings in shares of Fortive Corporation by 132.6% in the 1st quarter. Hutchens Investment Management Inc now owns 30,397 shares of the technology company’s stock worth $1,830,000 after acquiring an additional 17,331 shares in the last quarter. Hikari Power Ltd boosted its holdings in shares of Fortive Corporation by 34.7% in the 2nd quarter. Hikari Power Ltd now owns 141,700 shares of the technology company’s stock worth $8,977,000 after acquiring an additional 36,500 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Fortive Corporation by 76.2% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 60,850 shares of the technology company’s stock worth $3,664,000 after acquiring an additional 26,311 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Fortive Corporation by 93.9% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,600 shares of the technology company’s stock worth $3,050,000 after acquiring an additional 24,500 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Fortive Corporation by 23.9% in the 2nd quarter. Synovus Financial Corp now owns 29,587 shares of the technology company’s stock worth $1,872,000 after acquiring an additional 5,715 shares in the last quarter. 78.70% of the stock is currently owned by institutional investors and hedge funds.
Fortive Corporation (NYSE FTV) traded down 0.03% on Wednesday, reaching $67.85. The company’s stock had a trading volume of 189,962 shares. The firm has a market cap of $23.55 billion, a P/E ratio of 26.72 and a beta of 0.27. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.98. The firm’s 50 day moving average is $67.52 and its 200-day moving average is $59.55.
Fortive Corporation (NYSE:FTV) last posted its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts anticipate that Fortive Corporation will post $2.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.41%. Fortive Corporation’s payout ratio is presently 11.02%.
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FTV has been the topic of several recent analyst reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $66.00 target price (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Stifel Nicolaus reissued a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research downgraded Fortive Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $61.82.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.10% of the company’s stock.
About Fortive Corporation
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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