Arrowstreet Capital Limited Partnership Acquires 529,579 Shares of Fortive Corporation $FTV

Arrowstreet Capital Limited Partnership grew its holdings in Fortive Corporation (NYSE:FTV) by 356.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 678,326 shares of the technology company’s stock after purchasing an additional 529,579 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Fortive were worth $35,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FTV. True Wealth Design LLC raised its holdings in shares of Fortive by 815.4% in the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares in the last quarter. Capital Analysts LLC increased its holdings in Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after buying an additional 152 shares during the period. Banque Transatlantique SA raised its stake in Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after buying an additional 270 shares in the last quarter. Finally, Andra AP fonden bought a new position in Fortive in the second quarter worth approximately $57,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $53.79 on Friday. 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 business’s 50 day moving average is $50.71 and its two-hundred day moving average is $54.16. The company has a market capitalization of $17.08 billion, a P/E ratio of 30.73, a P/E/G ratio of 3.21 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.07 billion during the quarter. Analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 13.71%.

Insider Activity

In related news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FTV shares. JPMorgan Chase & Co. lifted their price objective on shares of Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fortive in a report on Monday. Zacks Research raised Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Robert W. Baird raised their price target on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Citigroup boosted their price target on Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Fortive presently has an average rating of “Hold” and an average target price of $57.38.

About Fortive

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.