A.R.T. Advisors LLC boosted its stake in Fortive Corp (NYSE:FTV) by 131.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,064 shares of the technology company’s stock after buying an additional 9,700 shares during the quarter. A.R.T. Advisors LLC’s holdings in Fortive were worth $1,391,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of FTV. Artisan Partners Limited Partnership lifted its stake in shares of Fortive by 16.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock worth $399,119,000 after purchasing an additional 661,196 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Fortive by 19.5% during the 2nd 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 during the last quarter. Schroder Investment Management Group increased its holdings in shares of Fortive by 14.8% during the 2nd 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 during the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Fortive by 18.4% during the 2nd 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 during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Fortive by 11.2% during the 1st quarter. Champlain Investment Partners LLC now owns 2,034,815 shares of the technology company’s stock worth $170,701,000 after buying an additional 205,445 shares during the last quarter. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FTV traded up $2.52 during mid-day trading on Friday, reaching $67.95. 3,204,924 shares of the company traded hands, compared to its average volume of 2,279,757. The stock has a fifty day simple moving average of $68.30 and a 200-day simple moving average of $77.26. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The firm has a market cap of $21.77 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.48 and a beta of 1.21.
Fortive (NYSE:FTV) last issued its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. As a group, analysts predict that Fortive Corp will post 3.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
FTV has been the subject of a number of research analyst reports. Raymond James set a $84.00 price objective on Fortive and gave the stock an “outperform” rating in a report on Friday, July 26th. Berenberg Bank set a $86.00 price target on Fortive and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays lowered their price target on Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Gordon Haskett downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $76.00 price objective on shares of Fortive in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Fortive has a consensus rating of “Hold” and an average target price of $79.55.
In other news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the transaction, the senior vice president now directly owns 20,015 shares in the company, valued at $1,415,060.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.70% of the stock is owned by insiders.
Fortive Company Profile
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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