Fortive Corporation (FTV) Holdings Lessened by KCM Investment Advisors LLC
KCM Investment Advisors LLC reduced its holdings in Fortive Corporation (NYSE:FTV) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,763 shares of the technology company’s stock after selling 150 shares during the quarter. KCM Investment Advisors LLC’s holdings in Fortive Corporation were worth $238,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. TCI Wealth Advisors Inc. increased its holdings in shares of Fortive Corporation by 2.8% in the second quarter. TCI Wealth Advisors Inc. now owns 2,847 shares of the technology company’s stock worth $180,000 after acquiring an additional 77 shares in the last quarter. King Luther Capital Management Corp increased its holdings in shares of Fortive Corporation by 2.5% in the second quarter. King Luther Capital Management Corp now owns 947,049 shares of the technology company’s stock worth $59,996,000 after acquiring an additional 23,398 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Fortive Corporation in the second quarter worth about $147,000. Norinchukin Bank The increased its holdings in shares of Fortive Corporation by 7.0% in the second quarter. Norinchukin Bank The now owns 20,924 shares of the technology company’s stock worth $1,326,000 after acquiring an additional 1,362 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Fortive Corporation by 2.7% in the second quarter. Ameriprise Financial Inc. now owns 628,105 shares of the technology company’s stock worth $39,791,000 after acquiring an additional 16,251 shares in the last quarter. Institutional investors own 78.59% of the company’s stock.
FTV has been the subject of several recent analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $66.00 price target on shares of Fortive Corporation in a report on Friday. Stifel Nicolaus restated a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a report on Sunday, July 30th. Zacks Investment Research downgraded Fortive Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $61.82.
Fortive Corporation (NYSE FTV) opened at 69.36 on Monday. The company has a market capitalization of $24.07 billion, a P/E ratio of 27.32 and a beta of 0.27. The company’s 50 day moving average price is $68.53 and its 200-day moving average price is $64.06. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $70.21.
Fortive Corporation (NYSE:FTV) last issued its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.61 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Friday, August 25th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, August 23rd. Fortive Corporation’s payout ratio is 11.02%.
In related news, CFO Charles E. Mclaughlin sold 6,565 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.10% of the company’s stock.
Fortive Corporation Company 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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