Rhumbline Advisers Increases Stock Holdings in Fortive Co. (NYSE:FTV)

Rhumbline Advisers lifted its stake in shares of Fortive Co. (NYSE:FTVGet Rating) by 15.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 605,641 shares of the technology company’s stock after buying an additional 80,463 shares during the quarter. Rhumbline Advisers’ holdings in Fortive were worth $32,935,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FTV. Apollon Wealth Management LLC acquired a new stake in Fortive during the 2nd quarter valued at approximately $208,000. FORA Capital LLC acquired a new stake in Fortive during the 2nd quarter valued at approximately $609,000. Toronto Dominion Bank grew its stake in Fortive by 36.1% during the 2nd quarter. Toronto Dominion Bank now owns 233,870 shares of the technology company’s stock valued at $12,717,000 after purchasing an additional 62,017 shares in the last quarter. Trexquant Investment LP acquired a new stake in Fortive during the 2nd quarter valued at approximately $1,560,000. Finally, EP Wealth Advisors LLC acquired a new stake in Fortive during the 2nd quarter valued at approximately $432,000. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Up 0.2 %

NYSE:FTV opened at $67.89 on Thursday. Fortive Co. has a 12-month low of $52.47 and a 12-month high of $78.18. The firm has a market capitalization of $24.02 billion, a P/E ratio of 35.54, a P/E/G ratio of 2.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.73. The business has a 50 day simple moving average of $62.72 and a 200 day simple moving average of $61.26.

Fortive (NYSE:FTVGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.44 billion. Equities research analysts predict that Fortive Co. will post 3.12 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, November 30th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio is currently 14.66%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays raised their price objective on Fortive to $72.00 in a research note on Tuesday, August 9th. Credit Suisse Group decreased their target price on Fortive from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. Citigroup lifted their target price on Fortive from $72.00 to $73.00 in a research report on Monday, October 10th. Morgan Stanley lifted their target price on Fortive from $73.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. Finally, TheStreet upgraded Fortive from a “c+” rating to a “b” rating in a research report on Tuesday, August 23rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.57.

Insider Buying and Selling at Fortive

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

Fortive Company Profile

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

Further Reading

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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