Swiss National Bank Lowers Holdings in Fortive Corp (FTV)
Swiss National Bank lessened its stake in shares of Fortive Corp (NYSE:FTV) by 7.1% during the third quarter, HoldingsChannel reports. The firm owned 961,372 shares of the technology company’s stock after selling 73,500 shares during the period. Swiss National Bank’s holdings in Fortive were worth $80,948,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Amalgamated Bank increased its position in Fortive by 6.7% during the 2nd quarter. Amalgamated Bank now owns 47,276 shares of the technology company’s stock valued at $3,645,000 after purchasing an additional 2,978 shares during the period. Fred Alger Management Inc. grew its position in shares of Fortive by 18.3% in the 2nd quarter. Fred Alger Management Inc. now owns 100,085 shares of the technology company’s stock worth $7,718,000 after buying an additional 15,472 shares during the period. Creative Planning grew its position in shares of Fortive by 12.2% in the 2nd quarter. Creative Planning now owns 12,953 shares of the technology company’s stock worth $999,000 after buying an additional 1,408 shares during the period. Sumitomo Life Insurance Co. grew its position in shares of Fortive by 4.2% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 24,320 shares of the technology company’s stock worth $1,875,000 after buying an additional 981 shares during the period. Finally, Douglas Lane & Associates LLC grew its position in shares of Fortive by 2.2% in the 2nd quarter. Douglas Lane & Associates LLC now owns 378,318 shares of the technology company’s stock worth $29,172,000 after buying an additional 8,155 shares during the period. Institutional investors own 92.17% of the company’s stock.
In related news, VP Jonathan L. Schwarz sold 8,869 shares of the stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $74.70, for a total transaction of $662,514.30. Following the sale, the vice president now directly owns 7,270 shares of the company’s stock, valued at approximately $543,069. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William W. Pringle sold 476 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $73.18, for a total transaction of $34,833.68. Following the sale, the insider now directly owns 28,639 shares in the company, valued at $2,095,802.02. The disclosure for this sale can be found here. Insiders have sold a total of 141,914 shares of company stock worth $10,694,376 over the last three months. 12.20% of the stock is currently owned by insiders.
Shares of FTV stock opened at $75.45 on Monday. Fortive Corp has a one year low of $69.03 and a one year high of $88.34. The stock has a market cap of $25.20 billion, a P/E ratio of 26.11, a PEG ratio of 2.09 and a beta of 0.98. The company has a current ratio of 0.98, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54.
Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Fortive had a net margin of 15.72% and a return on equity of 24.91%. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.86 billion. On average, analysts forecast that Fortive Corp will post 3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 29th. Fortive’s dividend payout ratio (DPR) is 9.69%.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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