ZWJ Investment Counsel Inc. increased its position in shares of Fortive Corp (NYSE:FTV) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 305,535 shares of the technology company’s stock after buying an additional 4,078 shares during the period. Fortive accounts for 2.0% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 17th biggest position. ZWJ Investment Counsel Inc. owned about 0.09% of Fortive worth $23,560,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates raised its position in shares of Fortive by 6.5% in the fourth quarter. Raymond James & Associates now owns 191,837 shares of the technology company’s stock valued at $13,879,000 after buying an additional 11,736 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Fortive by 8.2% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 26,067 shares of the technology company’s stock valued at $1,885,000 after acquiring an additional 1,975 shares during the last quarter. LPL Financial LLC increased its position in shares of Fortive by 21.1% during the fourth quarter. LPL Financial LLC now owns 8,888 shares of the technology company’s stock valued at $643,000 after acquiring an additional 1,550 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Fortive in the fourth quarter valued at approximately $366,000. Finally, Macquarie Group Ltd. lifted its stake in Fortive by 15.7% in the fourth quarter. Macquarie Group Ltd. now owns 107,100 shares of the technology company’s stock worth $8,013,000 after acquiring an additional 14,504 shares during the last quarter. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Raj Ratnakar sold 30,912 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $80.71, for a total value of $2,494,907.52. Following the sale, the vice president now owns 13,244 shares in the company, valued at $1,068,923.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 16,420 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $80.71, for a total transaction of $1,325,258.20. Following the completion of the sale, the senior vice president now owns 16,960 shares in the company, valued at approximately $1,368,841.60. The disclosure for this sale can be found here. Insiders have sold 74,162 shares of company stock valued at $6,012,644 in the last ninety days. Insiders own 12.10% of the company’s stock.
Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business posted $0.71 earnings per share. Fortive’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that Fortive Corp will post 3.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Thursday, August 30th. Fortive’s dividend payout ratio is 9.69%.
Several analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Fortive in a research report on Wednesday, June 27th. They set an “outperform” rating for the company. TheStreet raised shares of Fortive from a “c” rating to a “b-” rating in a research note on Monday, June 11th. ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. BMO Capital Markets upped their target price on shares of Fortive from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Finally, Citigroup upped their price objective on shares of Fortive from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, July 30th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Fortive presently has a consensus rating of “Hold” and a consensus price target of $83.11.
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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