Fortive Corp (NYSE:FTV) Stake Reduced by Asset Dedication LLC

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Asset Dedication LLC cut its holdings in Fortive Corp (NYSE:FTV) by 42.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 390 shares of the technology company’s stock after selling 291 shares during the quarter. Asset Dedication LLC’s holdings in Fortive were worth $27,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. LPL Financial LLC raised its position in Fortive by 2.0% in the second quarter. LPL Financial LLC now owns 7,831 shares of the technology company’s stock worth $638,000 after acquiring an additional 153 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Fortive by 4.5% in the 2nd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $302,000 after purchasing an additional 160 shares in the last quarter. Zions Bancorporation N.A. increased its stake in Fortive by 5.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 3,390 shares of the technology company’s stock worth $277,000 after purchasing an additional 173 shares in the last quarter. O Brien Greene & Co. Inc increased its stake in Fortive by 0.5% in the 2nd quarter. O Brien Greene & Co. Inc now owns 36,185 shares of the technology company’s stock worth $2,949,000 after purchasing an additional 175 shares in the last quarter. Finally, Dempze Nancy E increased its stake in Fortive by 1.6% in the 2nd quarter. Dempze Nancy E now owns 12,070 shares of the technology company’s stock worth $985,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.

NYSE:FTV opened at $70.94 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The stock’s 50-day moving average is $68.31 and its two-hundred day moving average is $76.77. The stock has a market cap of $23.80 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 2.73 and a beta of 1.21.

Fortive (NYSE:FTV) last released its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that Fortive Corp will post 3.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the transaction, the senior vice president now owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.70% of the company’s stock.

FTV has been the topic of a number of analyst reports. Berenberg Bank set a $86.00 price target on Fortive and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America dropped their price target on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Credit Suisse Group reissued a “hold” rating and issued a $76.00 price target on shares of Fortive in a research note on Tuesday, September 10th. Raymond James set a $84.00 price target on Fortive and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley dropped their price target on Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $79.25.

Fortive 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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