Fortive Corporation (FTV) Stake Lowered by Winslow Capital Management LLC
Winslow Capital Management LLC trimmed its holdings in shares of Fortive Corporation (NYSE:FTV) by 29.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,112,983 shares of the technology company’s stock after selling 1,289,953 shares during the period. Winslow Capital Management LLC owned about 0.90% of Fortive Corporation worth $197,208,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTV. BlackRock Inc. raised its stake in shares of Fortive Corporation by 2,497.9% during the 1st quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock worth $996,902,000 after purchasing an additional 15,917,140 shares during the period. Bessemer Group Inc. raised its stake in shares of Fortive Corporation by 64,460.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock worth $167,275,000 after purchasing an additional 2,636,422 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in shares of Fortive Corporation during the 1st quarter worth $115,464,000. Marshall Wace North America L.P. bought a new stake in shares of Fortive Corporation during the 1st quarter worth $115,464,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Fortive Corporation by 261.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,948,537 shares of the technology company’s stock worth $123,442,000 after purchasing an additional 1,410,000 shares during the period. Institutional investors own 78.59% of the company’s stock.
Shares of Fortive Corporation (NYSE:FTV) traded down 0.36% during midday trading on Monday, hitting $69.78. The stock had a trading volume of 244,912 shares. The stock’s 50 day moving average price is $69.00 and its 200 day moving average price is $69.00. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $70.66. The firm has a market cap of $24.22 billion, a price-to-earnings ratio of 27.48 and a beta of 0.27.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities analysts forecast that Fortive Corporation will post $2.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is currently 11.02%.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is owned by company insiders.
A number of research firms have recently commented on FTV. Zacks Investment Research cut Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada reiterated a “hold” rating and set a $66.00 target price on shares of Fortive Corporation in a research note on Friday, September 15th. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 target price on shares of Fortive Corporation in a research note on Sunday, July 30th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.90.
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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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