The Manufacturers Life Insurance Company Acquires 229,519 Shares of Fortive Corporation (FTV)

The Manufacturers Life Insurance Company increased its holdings in shares of Fortive Corporation (NYSE:FTV) by 29.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,009,054 shares of the technology company’s stock after buying an additional 229,519 shares during the period. The Manufacturers Life Insurance Company owned 0.29% of Fortive Corporation worth $63,922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CENTRAL TRUST Co raised its stake in shares of Fortive Corporation by 1.0% during the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares during the last quarter. Mirador Capital Partners LP raised its stake in shares of Fortive Corporation by 0.4% during the second quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock worth $404,000 after buying an additional 26 shares during the last quarter. Atria Investments LLC raised its stake in shares of Fortive Corporation by 1.4% during the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock worth $289,000 after buying an additional 61 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Fortive Corporation by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock worth $1,419,000 after buying an additional 72 shares during the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in shares of Fortive Corporation by 2.8% during the second quarter. TCI Wealth Advisors Inc. now owns 2,847 shares of the technology company’s stock worth $180,000 after buying an additional 77 shares during the last quarter. 78.59% of the stock is owned by institutional investors and hedge funds.

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A number of research firms recently weighed in on FTV. Stifel Nicolaus reissued a “hold” rating and set a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Royal Bank Of Canada reissued a “hold” rating and set a $66.00 price target on shares of Fortive Corporation in a research note on Friday, September 15th. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Morgan Stanley reissued an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Finally, Citigroup Inc. restated a “neutral” rating and set a $72.00 price objective (up previously from $65.00) on shares of Fortive Corporation in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fortive Corporation currently has an average rating of “Hold” and a consensus price target of $66.50.

In other Fortive Corporation news, CFO Charles E. Mclaughlin sold 6,565 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $66.09, for a total transaction of $433,880.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.10% of the stock is currently owned by company insiders.

Shares of Fortive Corporation (NYSE FTV) traded up 0.28% on Wednesday, reaching $72.12. 71,988 shares of the company were exchanged. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $72.31. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 28.40 and a beta of 0.39. The company’s 50-day moving average price is $70.10 and its 200 day moving average price is $70.10.

Fortive Corporation (NYSE:FTV) last released its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.64 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Fortive Corporation will post $2.80 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, August 25th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive Corporation’s payout ratio is 11.02%.

Fortive Corporation 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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Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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