Mcrae Capital Management Inc. Has $587,000 Stake in Fortive Corporation (FTV)
Mcrae Capital Management Inc. continued to hold its position in shares of Fortive Corporation (NYSE:FTV) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,262 shares of the technology company’s stock at the end of the second quarter. Mcrae Capital Management Inc.’s holdings in Fortive Corporation were worth $587,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Fortive Corporation by 2.7% in the first quarter. FMR LLC now owns 21,506,167 shares of the technology company’s stock valued at $1,295,101,000 after buying an additional 574,042 shares in the last quarter. Vanguard Group Inc. boosted its stake in Fortive Corporation by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,993,417 shares of the technology company’s stock valued at $1,204,004,000 after buying an additional 646,463 shares in the last quarter. BlackRock Inc. boosted its stake in Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares in the last quarter. State Street Corp boosted its stake in Fortive Corporation by 1.4% in the first quarter. State Street Corp now owns 12,557,670 shares of the technology company’s stock valued at $756,215,000 after buying an additional 174,619 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Fortive Corporation by 25.5% in the first quarter. First Eagle Investment Management LLC now owns 4,718,316 shares of the technology company’s stock valued at $284,137,000 after buying an additional 957,431 shares in the last quarter. 79.85% of the stock is owned by institutional investors.
Fortive Corporation (NYSE:FTV) traded up 0.11% during mid-day trading on Friday, hitting $65.60. 705,331 shares of the company traded hands. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48. The firm has a market capitalization of $22.77 billion, a P/E ratio of 25.84 and a beta of 0.23. The firm has a 50 day moving average of $64.42 and a 200 day moving average of $61.24.
Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts expect that Fortive Corporation will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is 11.02%.
TRADEMARK VIOLATION NOTICE: This piece of content was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://theolympiareport.com/2017/08/12/mcrae-capital-management-inc-continues-to-hold-stake-in-fortive-corporation-ftv-updated.html.
Several equities research analysts recently commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a research report on Tuesday, July 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price target (up from $65.00) on shares of Fortive Corporation in a research report on Sunday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $62.00 target price on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Monday, July 24th. Finally, Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the company a “buy” rating in a report on Sunday, April 30th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fortive Corporation presently has a consensus rating of “Hold” and a consensus price target of $61.82.
In other Fortive Corporation news, VP Emily A. Weaver sold 3,749 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total transaction of $233,450.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Raj Ratnakar sold 11,642 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the sale, the vice president now owns 5,020 shares in the company, valued at approximately $312,796.20. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.
About Fortive Corporation
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.
Receive News & Ratings for Fortive Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.