Inverness Counsel LLC NY increased its stake in shares of Fortive Corp (NYSE:FTV) by 6.1% during the first quarter, Holdings Channel reports. The fund owned 235,785 shares of the company’s stock after buying an additional 13,555 shares during the period. Inverness Counsel LLC NY owned approximately 0.07% of Fortive Corp worth $14,265,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in Fortive Corp by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the company’s stock valued at $112,000 after buying an additional 7 shares during the last quarter. Israel Discount Bank of New York GFN bought a new position in Fortive Corp during the fourth quarter valued at approximately $124,000. Integrated Investment Consultants LLC boosted its position in Fortive Corp by 201.4% in the first quarter. Integrated Investment Consultants LLC now owns 2,670 shares of the company’s stock valued at $161,000 after buying an additional 1,784 shares during the last quarter. Parallel Advisors LLC bought a new position in Fortive Corp during the fourth quarter valued at approximately $166,000. Finally, Capital Guardian Trust Co. boosted its position in Fortive Corp by 6.4% in the fourth quarter. Capital Guardian Trust Co. now owns 3,748 shares of the company’s stock valued at $201,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 77.18% of the company’s stock.
Fortive Corp (NYSE:FTV) traded down 0.15% during midday trading on Thursday, hitting $60.41. 780,162 shares of the stock traded hands. The firm’s 50 day moving average is $59.09 and its 200-day moving average is $54.86. Fortive Corp has a 12-month low of $43.00 and a 12-month high of $61.11. The stock has a market capitalization of $20.90 billion and a PE ratio of 24.07.
Fortive Corp (NYSE:FTV) last posted its earnings results on Tuesday, February 7th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Fortive Corp’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Fortive Corp will post $2.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, February 24th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 22nd.
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Several research firms recently commented on FTV. SunTrust Banks, Inc. upgraded shares of Fortive Corp from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Wednesday, March 29th. JPMorgan Chase & Co. upgraded shares of Fortive Corp from a “neutral” rating to an “overweight” rating and upped their target price for the company from $56.00 to $66.00 in a research note on Friday, March 24th. Zacks Investment Research cut shares of Fortive Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Oppenheimer Holdings Inc. began coverage on shares of Fortive Corp in a research note on Wednesday, January 18th. They set a “market perform” rating for the company. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Fortive Corp in a research note on Thursday, December 15th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $57.93.
Fortive Corp 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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