Capital Investment Services of America Inc. Purchases 12,203 Shares of Fortive Corp (NYSE:FTV)

Share on StockTwits

Capital Investment Services of America Inc. increased its stake in Fortive Corp (NYSE:FTV) by 6.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 200,268 shares of the technology company’s stock after buying an additional 12,203 shares during the quarter. Fortive accounts for approximately 2.0% of Capital Investment Services of America Inc.’s portfolio, making the stock its 28th largest holding. Capital Investment Services of America Inc.’s holdings in Fortive were worth $13,730,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rational Advisors LLC purchased a new position in shares of Fortive in the 2nd quarter worth about $33,000. Kavar Capital Partners LLC purchased a new stake in Fortive during the second quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new stake in Fortive during the second quarter valued at about $41,000. Kings Point Capital Management purchased a new stake in Fortive during the second quarter valued at about $41,000. Finally, CSat Investment Advisory L.P. lifted its holdings in Fortive by 342.8% during the second quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock valued at $55,000 after purchasing an additional 521 shares during the last quarter. 82.60% of the stock is currently owned by institutional investors.

In related news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now directly owns 20,015 shares in the company, valued at $1,415,060.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.70% of the stock is currently owned by corporate insiders.

Shares of Fortive stock traded up $2.52 on Friday, reaching $67.95. The stock had a trading volume of 3,217,073 shares, compared to its average volume of 1,693,545. Fortive Corp has a 1 year low of $62.89 and a 1 year high of $89.48. The company has a market cap of $21.55 billion, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 2.45 and a beta of 1.21. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The business’s 50 day moving average is $68.34 and its two-hundred day moving average is $77.33.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities analysts anticipate that Fortive Corp will post 3.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, August 29th. Fortive’s dividend payout ratio (DPR) is 9.15%.

Several research firms have commented on FTV. Credit Suisse Group reaffirmed a “hold” rating and set a $76.00 price objective on shares of Fortive in a report on Tuesday, September 10th. Morgan Stanley dropped their price objective on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Zacks Investment Research raised shares of Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a report on Tuesday, October 1st. Bank of America lowered their price target on shares of Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Gordon Haskett downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.55.

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: P/E Growth (PEG)

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corp (NYSE:FTV).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.