Public Employees Retirement System of Ohio decreased its stake in shares of Fortive Corporation (NYSE:FTV) by 34.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,587 shares of the technology company’s stock after selling 72,248 shares during the period. Public Employees Retirement System of Ohio’s holdings in Fortive Corporation were worth $8,589,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Jacobi Capital Management LLC lifted its position in Fortive Corporation by 25.5% during 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 during the period. BDO Wealth Advisors LLC bought a new position in Fortive Corporation during the second quarter valued at approximately $128,000. Westwood Holdings Group Inc. bought a new position in Fortive Corporation during the second quarter valued at approximately $139,000. Sun Life Financial INC lifted its position in Fortive Corporation by 21,940.0% during the second quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,194 shares during the period. Finally, CENTRAL TRUST Co lifted its position in Fortive Corporation by 1.0% during the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after purchasing an additional 23 shares during the period. Institutional investors own 78.54% of the company’s stock.
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Fortive Corporation (FTV) opened at 72.01 on Friday. The company has a market capitalization of $24.99 billion, a P/E ratio of 28.36 and a beta of 0.39. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $73.21. The firm has a 50-day moving average of $69.96 and a 200 day moving average of $65.06.
Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a return on equity of 32.88% and a net margin of 14.02%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Fortive Corporation will post $2.80 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, August 25th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio (DPR) is presently 11.02%.
In other news, CFO Charles E. Mclaughlin sold 6,565 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total transaction of $433,880.85. The sale was disclosed in a document filed with the SEC, which is available at this link. 12.10% of the stock is owned by company insiders.
FTV has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Royal Bank Of Canada restated a “hold” rating and set a $66.00 price objective on shares of Fortive Corporation in a research report on Friday, September 15th. Citigroup Inc. restated a “neutral” rating and set a $72.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a research report on Monday, October 9th. Stifel Nicolaus restated a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research report on Sunday, July 30th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $66.50.
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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