Commerzbank Aktiengesellschaft FI lifted its position in shares of Fortive Corp (NYSE:FTV) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,227 shares of the technology company’s stock after buying an additional 809 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Fortive were worth $2,552,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of FTV. Nuveen Asset Management LLC lifted its holdings in shares of Fortive by 23,241.1% during the second quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock worth $318,466,000 after buying an additional 3,889,862 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Fortive by 19.5% during the second quarter. Baillie Gifford & Co. now owns 1,873,187 shares of the technology company’s stock worth $152,702,000 after buying an additional 305,037 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Fortive by 14.8% during the second quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock worth $181,961,000 after buying an additional 287,449 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Fortive by 18.4% during the second quarter. CIBC Private Wealth Group LLC now owns 1,651,274 shares of the technology company’s stock worth $134,613,000 after buying an additional 257,016 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Fortive by 230.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 365,594 shares of the technology company’s stock worth $29,804,000 after buying an additional 254,963 shares in the last quarter. 82.66% of the stock is owned by institutional investors.
In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now owns 20,015 shares in the company, valued at $1,415,060.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 12.70% of the company’s stock.
Fortive (NYSE:FTV) last released its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts forecast that Fortive Corp will post 3.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, August 29th. Fortive’s dividend payout ratio is presently 9.15%.
A number of brokerages recently commented on FTV. Barclays decreased their price target on Fortive from $89.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Raymond James set a $84.00 price target on Fortive and gave the stock an “outperform” rating in a research report on Friday, July 26th. Bank of America decreased their price target on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley decreased their price target on Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Finally, Zacks Investment Research upgraded Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $79.25.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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