CIBC Private Wealth Group LLC raised its position in shares of Fortive Corp (NYSE:FTV) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,379,423 shares of the technology company’s stock after buying an additional 28,512 shares during the period. CIBC Private Wealth Group LLC’s holdings in Fortive were worth $93,332,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Baystate Wealth Management LLC boosted its position in shares of Fortive by 837.8% during the fourth quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock worth $25,000 after buying an additional 310 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of Fortive by 104.6% during the third quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock worth $26,000 after buying an additional 158 shares during the period. Ipswich Investment Management Co. Inc. purchased a new position in shares of Fortive during the fourth quarter worth $50,000. Financial Gravity Companies Inc. purchased a new position in shares of Fortive during the fourth quarter worth $62,000. Finally, Private Capital Group LLC boosted its position in shares of Fortive by 22.1% during the fourth quarter. Private Capital Group LLC now owns 1,303 shares of the technology company’s stock worth $88,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 81.42% of the company’s stock.
In other Fortive news, insider William W. Pringle sold 476 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $73.18, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jonathan L. Schwarz sold 8,869 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $74.70, for a total value of $662,514.30. Following the completion of the sale, the vice president now owns 7,270 shares in the company, valued at $543,069. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,813 shares of company stock worth $732,570. 12.20% of the stock is owned by insiders.
NYSE:FTV opened at $76.82 on Monday. The firm has a market capitalization of $25.66 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.95 and a beta of 1.11. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $88.34. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45.
Fortive (NYSE:FTV) last released its earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 22.42% and a net margin of 40.50%. Fortive’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Equities research analysts predict that Fortive Corp will post 3.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 22nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Thursday, February 21st. Fortive’s dividend payout ratio is presently 9.15%.
FTV has been the subject of a number of recent research reports. Zacks Investment Research upgraded Fortive from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Credit Suisse Group reiterated a “neutral” rating and issued a $78.00 target price (down from $86.00) on shares of Fortive in a report on Thursday, January 3rd. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a report on Wednesday, January 30th. Morgan Stanley decreased their target price on Fortive from $90.00 to $84.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Finally, SunTrust Banks decreased their target price on Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a report on Monday, October 29th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $85.82.
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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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