3,341 Shares in Fortive Corporation (FTV) Purchased by Scotia Capital Inc.
Scotia Capital Inc. acquired a new stake in Fortive Corporation (NYSE:FTV) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,341 shares of the technology company’s stock, valued at approximately $212,000.
Other hedge funds have also made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in shares of Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after purchasing an additional 350 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in Fortive Corporation in the second quarter worth approximately $128,000. Sun Life Financial INC lifted its stake in Fortive Corporation by 21,940.0% in the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,194 shares during the last quarter. CENTRAL TRUST Co lifted its stake in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after acquiring an additional 23 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in Fortive Corporation in the second quarter worth approximately $147,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.
In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.10% of the stock is owned by company insiders.
FTV has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Tuesday, September 26th. Royal Bank Of Canada reiterated a “hold” rating and issued a $70.00 price target on shares of Fortive Corporation in a research note on Wednesday, October 11th. Citigroup Inc. reiterated a “neutral” rating and issued a $72.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $72.00 price target (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Fortive Corporation currently has an average rating of “Hold” and a consensus price target of $66.50.
Fortive Corporation (NYSE FTV) opened at 71.62 on Thursday. The company has a 50-day moving average of $69.58 and a 200-day moving average of $64.93. The stock has a market cap of $24.86 billion, a P/E ratio of 28.21 and a beta of 0.39. Fortive Corporation has a 52 week low of $46.81 and a 52 week high of $73.21.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the company earned $0.64 earnings per share. Fortive Corporation’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that Fortive Corporation will post $2.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, August 25th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is 11.02%.
Fortive Corporation Profile
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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