Fortive Co. (NYSE:FTV – Get Rating) CFO Charles E. Mclaughlin sold 13,156 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $68.44, for a total transaction of $900,396.64. Following the transaction, the chief financial officer now directly owns 88,818 shares of the company’s stock, valued at approximately $6,078,703.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Fortive Price Performance
Shares of FTV opened at $66.91 on Tuesday. Fortive Co. has a twelve month low of $52.47 and a twelve month high of $79.87. The firm’s fifty day simple moving average is $62.49 and its 200-day simple moving average is $60.97. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 2.47 and a beta of 1.13. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.27.
Fortive (NYSE:FTV – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Fortive had a net margin of 12.22% and a return on equity of 11.69%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.44 billion. Equities analysts forecast that Fortive Co. will post 3.12 EPS for the current fiscal year.
Fortive Dividend Announcement
Institutional Investors Weigh In On Fortive
Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Fortive by 48.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,725,663 shares of the technology company’s stock worth $2,214,661,000 after acquiring an additional 13,237,805 shares in the last quarter. Viking Global Investors LP raised its stake in Fortive by 41.8% during the 1st quarter. Viking Global Investors LP now owns 12,033,157 shares of the technology company’s stock worth $733,180,000 after acquiring an additional 3,548,215 shares in the last quarter. Gates Capital Management Inc. acquired a new stake in Fortive during the 1st quarter worth $180,743,000. FMR LLC raised its stake in Fortive by 22.8% during the 2nd quarter. FMR LLC now owns 11,759,754 shares of the technology company’s stock worth $639,495,000 after acquiring an additional 2,181,045 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in Fortive by 39.4% during the 3rd quarter. Brown Advisory Inc. now owns 5,710,019 shares of the technology company’s stock worth $332,894,000 after acquiring an additional 1,614,640 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on FTV. Citigroup increased their price objective on shares of Fortive from $72.00 to $73.00 in a research report on Monday, October 10th. Wells Fargo & Company increased their price objective on shares of Fortive from $63.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 27th. TheStreet raised shares of Fortive from a “c+” rating to a “b” rating in a research report on Tuesday, August 23rd. Mizuho decreased their price target on shares of Fortive from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Finally, Barclays raised their price target on shares of Fortive to $72.00 in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.57.
Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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