Fortive Corporation $FTV Shares Bought by Prudential PLC

Prudential PLC raised its position in Fortive Corporation (NYSE:FTV) by 9.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,303 shares of the technology company’s stock after buying an additional 15,242 shares during the period. Prudential PLC’s holdings in Fortive were worth $8,930,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Fortive by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock valued at $2,054,644,000 after purchasing an additional 839,321 shares in the last quarter. Dodge & Cox grew its holdings in Fortive by 181.5% in the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after purchasing an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares in the last quarter. Flossbach Von Storch SE increased its position in shares of Fortive by 1.6% in the second quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after buying an additional 189,027 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Fortive by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,689,681 shares of the technology company’s stock worth $451,093,000 after buying an additional 211,694 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Up 0.8%

Shares of NYSE FTV opened at $50.82 on Friday. The stock has a market cap of $16.14 billion, a PE ratio of 29.04, a P/E/G ratio of 3.04 and a beta of 1.16. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The company has a 50-day moving average of $49.66 and a 200 day moving average of $55.52.

Fortive (NYSE:FTV) last issued its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The business had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. As a group, sell-side analysts predict that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s payout ratio is 13.71%.

Analyst Ratings Changes

Several equities research analysts recently commented on FTV shares. Royal Bank Of Canada cut their price target on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Fortive in a research note on Wednesday. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Citigroup lifted their price objective on Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Barclays boosted their price objective on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.38.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the sale, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.

Fortive Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.