Fortive Corp (NYSE:FTV) VP Emily A. Weaver sold 9,271 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $75.41, for a total transaction of $699,126.11. Following the transaction, the vice president now owns 9,279 shares in the company, valued at approximately $699,729.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE FTV opened at $75.88 on Wednesday. Fortive Corp has a 1 year low of $69.03 and a 1 year high of $88.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.98 and a quick ratio of 0.79. The firm has a market capitalization of $25.00 billion, a PE ratio of 26.26, a PEG ratio of 2.07 and a beta of 0.98.
Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 25th. The technology company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Fortive had a return on equity of 24.91% and a net margin of 15.72%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Analysts forecast that Fortive Corp will post 3 earnings per share for the current fiscal year.
Several research analysts have weighed in on FTV shares. Argus upped their price objective on shares of Fortive to $94.00 and gave the stock a “buy” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. UBS Group upped their target price on shares of Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, August 30th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, October 1st. SunTrust Banks reduced their target price on shares of Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, October 29th. Finally, Credit Suisse Group reduced their target price on shares of Fortive from $89.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Fortive currently has an average rating of “Buy” and an average target price of $87.18.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its position in Fortive by 20.0% during the second quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after buying an additional 3,960,523 shares during the period. Massachusetts Financial Services Co. MA grew its position in Fortive by 23.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,150,214 shares of the technology company’s stock valued at $397,134,000 after buying an additional 984,564 shares during the period. Northern Trust Corp grew its position in Fortive by 1.1% during the second quarter. Northern Trust Corp now owns 4,355,498 shares of the technology company’s stock valued at $335,852,000 after buying an additional 47,476 shares during the period. Bessemer Group Inc. grew its position in Fortive by 0.7% during the third quarter. Bessemer Group Inc. now owns 3,935,895 shares of the technology company’s stock valued at $331,403,000 after buying an additional 26,209 shares during the period. Finally, Winslow Capital Management LLC grew its position in Fortive by 15.2% during the second quarter. Winslow Capital Management LLC now owns 2,970,792 shares of the technology company’s stock valued at $229,078,000 after buying an additional 391,138 shares during the period. Hedge funds and other institutional investors own 85.24% 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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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