Davis R M Inc. Cuts Stake in Fortive Corp (NYSE:FTV)

Davis R M Inc. trimmed its position in Fortive Corp (NYSE:FTV) by 33.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,012 shares of the technology company’s stock after selling 2,549 shares during the quarter. Davis R M Inc.’s holdings in Fortive were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in Fortive by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after buying an additional 203,786 shares in the last quarter. Brown Advisory Inc. grew its holdings in Fortive by 2.4% during the 4th quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock valued at $427,722,000 after buying an additional 146,763 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Fortive by 0.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,065,139 shares of the technology company’s stock valued at $342,708,000 after buying an additional 18,244 shares in the last quarter. Norges Bank purchased a new stake in Fortive during the 4th quarter valued at approximately $246,463,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in Fortive by 3,401.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock valued at $37,000 after buying an additional 2,461,167 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on FTV shares. ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, May 13th. BMO Capital Markets increased their price objective on shares of Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Argus reiterated a “buy” rating on shares of Fortive in a research report on Tuesday, April 30th. William Blair reiterated a “market perform” rating on shares of Fortive in a research report on Tuesday, February 12th. Finally, TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a research report on Wednesday, January 30th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $87.77.

In related news, SVP Barbara B. Hulit sold 11,386 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $86.16, for a total value of $981,017.76. Following the completion of the sale, the senior vice president now directly owns 48,891 shares in the company, valued at $4,212,448.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Emily A. Weaver sold 519 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $80.98, for a total value of $42,028.62. Following the completion of the sale, the vice president now owns 8,627 shares of the company’s stock, valued at $698,614.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,684 shares of company stock valued at $3,213,523. 12.70% of the stock is owned by corporate insiders.

Shares of NYSE FTV traded down $0.31 during midday trading on Wednesday, reaching $79.59. 1,651,545 shares of the stock traded hands, compared to its average volume of 1,440,355. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20. The company has a market capitalization of $26.59 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.72 and a beta of 1.13. Fortive Corp has a one year low of $62.89 and a one year high of $89.48.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, April 25th. The technology company reported $0.69 EPS for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.63 billion. Fortive had a return on equity of 19.44% and a net margin of 39.98%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities analysts predict that Fortive Corp will post 3.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.07 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. Fortive’s dividend payout ratio is presently 9.15%.

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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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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