Fortive Corp (FTV) Stake Lowered by FIL Ltd

FIL Ltd lessened its holdings in Fortive Corp (NYSE:FTV) by 18.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,261 shares of the technology company’s stock after selling 4,438 shares during the period. FIL Ltd’s holdings in Fortive were worth $1,706,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC boosted 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 purchasing an additional 3,960,523 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in Fortive during the second quarter valued at $185,524,000. Findlay Park Partners LLP acquired a new stake in Fortive during the second quarter valued at $69,399,000. Jennison Associates LLC acquired a new stake in Fortive during the second quarter valued at $48,009,000. Finally, Victory Capital Management Inc. boosted its position in Fortive by 1,057.2% during the second quarter. Victory Capital Management Inc. now owns 616,084 shares of the technology company’s stock valued at $47,506,000 after purchasing an additional 562,847 shares during the last quarter.

In other Fortive news, VP Emily A. Weaver sold 9,271 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $75.41, for a total value of $699,126.11. Following the completion of the sale, the vice president now owns 9,279 shares of the company’s stock, valued at $699,729.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James A. Lico sold 123,298 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $75.41, for a total value of $9,297,902.18. Following the completion of the sale, the insider now directly owns 357,460 shares of the company’s stock, valued at approximately $26,956,058.60. The disclosure for this sale can be found here. Insiders sold 142,382 shares of company stock valued at $10,729,598 in the last ninety days. Insiders own 12.20% of the company’s stock.

A number of research firms recently issued reports on FTV. Royal Bank of Canada reissued a “hold” rating and set a $74.00 price objective on shares of Fortive in a research report on Wednesday, November 21st. Morgan Stanley reduced their price objective on Fortive from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Argus lifted their price objective on Fortive from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. Credit Suisse Group reduced their price objective on Fortive from $89.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Finally, Gordon Haskett began coverage on Fortive in a research report on Friday, October 12th. They set a “buy” rating for the company. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $86.73.

Shares of NYSE:FTV opened at $76.07 on Monday. Fortive Corp has a fifty-two week low of $69.03 and a fifty-two week high of $88.34. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 22.57, a P/E/G ratio of 2.11 and a beta of 0.98. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 0.54.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 25th. The technology company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Fortive had a return on equity of 24.91% and a net margin of 15.72%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. As a group, analysts predict that Fortive Corp will post 3 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be given a $0.07 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s dividend payout ratio is currently 9.69%.

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About Fortive

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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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