CIBC Asset Management Inc Purchases 4,260 Shares of Fortive Co. (NYSE:FTV)

CIBC Asset Management Inc lifted its position in Fortive Co. (NYSE:FTVGet Rating) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,933 shares of the technology company’s stock after buying an additional 4,260 shares during the period. CIBC Asset Management Inc’s holdings in Fortive were worth $2,969,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Fortive by 48.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 40,725,663 shares of the technology company’s stock worth $2,214,661,000 after acquiring an additional 13,237,805 shares in the last quarter. Vanguard Group Inc. raised its position in Fortive by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock valued at $2,288,355,000 after buying an additional 989,883 shares during the last quarter. FMR LLC lifted its stake in Fortive by 22.8% in the 2nd quarter. FMR LLC now owns 11,759,754 shares of the technology company’s stock valued at $639,495,000 after acquiring an additional 2,181,045 shares in the last quarter. Brown Advisory Inc. lifted its stake in Fortive by 12.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,450,919 shares of the technology company’s stock valued at $246,052,000 after acquiring an additional 476,070 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in Fortive by 94.3% during the 2nd quarter. Ceredex Value Advisors LLC now owns 2,700,364 shares of the technology company’s stock worth $146,846,000 after acquiring an additional 1,310,764 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. Credit Suisse Group cut their price objective on shares of Fortive from $79.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, October 27th. Wells Fargo & Company raised their target price on shares of Fortive from $67.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, January 19th. Mizuho upped their price target on shares of Fortive from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 13th. Citigroup boosted their price objective on shares of Fortive from $73.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, December 9th. Finally, Morgan Stanley raised their target price on shares of Fortive from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.85.

Fortive Trading Up 0.6 %

Shares of FTV stock opened at $67.24 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.27. The stock has a market cap of $23.79 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.29 and a beta of 1.12. The stock has a 50 day simple moving average of $66.00 and a 200 day simple moving average of $63.80. Fortive Co. has a 1 year low of $52.47 and a 1 year high of $71.78.

Fortive (NYSE:FTVGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. Fortive had a return on equity of 11.69% and a net margin of 12.22%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.44 billion. On average, research analysts predict that Fortive Co. will post 3.12 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, February 24th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio is currently 14.66%.

Insider Buying and Selling at Fortive

In other Fortive news, CEO Patrick K. Murphy sold 32,788 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the transaction, the chief executive officer now directly owns 62,929 shares in the company, valued at $4,314,412.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fortive news, CEO Patrick K. Murphy sold 32,788 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the transaction, the chief executive officer now directly owns 62,929 shares in the company, valued at $4,314,412.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 13,156 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.44, for a total transaction of $900,396.64. Following the transaction, the chief financial officer now owns 88,818 shares of the company’s stock, valued at $6,078,703.92. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Fortive Profile

(Get Rating)

Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

See Also

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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