Fortive Corp (NYSE:FTV) insider Martin Gafinowitz sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $81.74, for a total value of $1,634,800.00. Following the completion of the transaction, the insider now owns 91,688 shares of the company’s stock, valued at $7,494,577.12. The transaction was disclosed in a filing with the SEC, which is available at this link.
FTV stock traded down $0.83 during trading on Friday, hitting $80.52. 1,335,000 shares of the company traded hands, compared to its average volume of 1,442,552. The stock has a market capitalization of $27.26 billion, a PE ratio of 26.31, a P/E/G ratio of 1.74 and a beta of 1.13. Fortive Corp has a 1 year low of $62.89 and a 1 year high of $89.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.20 and a quick ratio of 1.97.
Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, meeting the consensus estimate of $0.69. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Fortive had a return on equity of 19.44% and a net margin of 39.98%. Fortive’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. Analysts anticipate that Fortive Corp will post 3.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, May 30th. Fortive’s dividend payout ratio is presently 9.15%.
A number of research firms have recently issued reports on FTV. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, May 7th. ValuEngine cut Fortive from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley cut Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 target price for the company. in a report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Berenberg Bank began coverage on Fortive in a report on Wednesday. They set a “buy” rating and a $96.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $87.77.
Hedge funds have recently modified their holdings of the stock. Baystate Wealth Management LLC raised its position in Fortive by 837.8% during the 4th quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock valued at $25,000 after purchasing an additional 310 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Fortive during the 1st quarter valued at approximately $25,000. Glassman Wealth Services raised its position in Fortive by 158.8% during the 1st quarter. Glassman Wealth Services now owns 308 shares of the technology company’s stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Pinnacle Bank bought a new position in Fortive during the 4th quarter valued at approximately $27,000. Finally, Baldwin Brothers Inc. MA bought a new position in Fortive during the 1st quarter valued at approximately $29,000. Institutional investors own 84.70% of the company’s stock.
Fortive Company Profile
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
See Also: Net Income
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