Raymond James & Associates Increases Position in Fortive Corp (FTV)
Raymond James & Associates lifted its stake in shares of Fortive Corp (NYSE:FTV) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,014 shares of the technology company’s stock after purchasing an additional 11,966 shares during the quarter. Raymond James & Associates’ holdings in Fortive were worth $15,809,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Wharton Business Group LLC bought a new stake in Fortive during the 2nd quarter worth approximately $932,000. Artisan Partners Limited Partnership bought a new stake in Fortive during the 2nd quarter worth approximately $185,524,000. Richard Bernstein Advisors LLC grew its holdings in Fortive by 18.8% during the 2nd quarter. Richard Bernstein Advisors LLC now owns 51,906 shares of the technology company’s stock worth $4,002,000 after acquiring an additional 8,207 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in Fortive by 30.3% during the 2nd quarter. Standard Life Aberdeen plc now owns 75,527 shares of the technology company’s stock worth $5,824,000 after acquiring an additional 17,545 shares during the last quarter. Finally, Hartland & Co. LLC bought a new stake in Fortive during the 2nd quarter worth approximately $204,000. 81.46% of the stock is currently owned by institutional investors.
Shares of NYSE FTV opened at $86.98 on Monday. The company has a market capitalization of $29.79 billion, a PE ratio of 30.10, a PEG ratio of 2.07 and a beta of 0.55. Fortive Corp has a 52-week low of $69.03 and a 52-week high of $87.64. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.68 and a current ratio of 1.96.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. Fortive’s dividend payout ratio (DPR) is currently 9.69%.
In related news, insider William W. Pringle sold 6,316 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $81.08, for a total transaction of $512,101.28. Following the transaction, the insider now owns 21,066 shares in the company, valued at approximately $1,708,031.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barbara B. Hulit sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $82.29, for a total transaction of $1,234,350.00. Following the transaction, the insider now owns 51,113 shares in the company, valued at approximately $4,206,088.77. The disclosure for this sale can be found here. Insiders sold a total of 74,602 shares of company stock worth $6,047,572 in the last 90 days. Corporate insiders own 12.10% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Fortive in a report on Wednesday, June 27th. They set an “outperform” rating on the stock. TheStreet raised shares of Fortive from a “c” rating to a “b-” rating in a report on Monday, June 11th. Argus boosted their price target on shares of Fortive from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. BMO Capital Markets boosted their price target on shares of Fortive from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Finally, UBS Group boosted their price target on shares of Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Fortive presently has a consensus rating of “Hold” and an average price target of $85.00.
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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