Russell Investments Group Ltd. Has $41.90 Million Stock Position in Fortive Co. (NYSE:FTV)

Russell Investments Group Ltd. raised its holdings in Fortive Co. (NYSE:FTVGet Rating) by 22.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 718,195 shares of the technology company’s stock after acquiring an additional 132,306 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of Fortive worth $41,897,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Fortive by 48.2% during 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 buying an additional 13,237,805 shares during the period. Vanguard Group Inc. increased its position in shares of Fortive by 2.7% during the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after buying an additional 989,883 shares during the period. FMR LLC increased its position in shares of Fortive by 22.8% during the second quarter. FMR LLC now owns 11,759,754 shares of the technology company’s stock worth $639,495,000 after buying an additional 2,181,045 shares during the period. Brown Advisory Inc. increased its position in shares of Fortive by 12.0% during the second quarter. Brown Advisory Inc. now owns 4,450,919 shares of the technology company’s stock worth $246,052,000 after buying an additional 476,070 shares during the period. Finally, Ceredex Value Advisors LLC increased its position in shares of Fortive by 94.3% during the second quarter. Ceredex Value Advisors LLC now owns 2,700,364 shares of the technology company’s stock worth $146,846,000 after buying an additional 1,310,764 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fortive

In related news, CEO Patrick K. Murphy sold 32,788 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,929 shares of the company’s stock, valued at $4,314,412.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Charles E. Mclaughlin sold 13,156 shares of the firm’s stock in a transaction dated 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 directly owns 88,818 shares of the company’s stock, valued at $6,078,703.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick K. Murphy sold 32,788 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,929 shares in the company, valued at $4,314,412.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Fortive Stock Up 0.6 %

Fortive stock opened at $67.24 on Wednesday. Fortive Co. has a 1-year low of $52.47 and a 1-year high of $71.78. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.29 and a beta of 1.12. The firm’s fifty day moving average price is $66.00 and its two-hundred day moving average price is $63.80. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.27.

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

Fortive Announces Dividend

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

Wall Street Analyst Weigh In

FTV has been the subject of several recent analyst reports. Mizuho increased their price objective 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. Morgan Stanley raised their price target on shares of Fortive from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Credit Suisse Group reduced their price target on shares of Fortive from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, October 27th. Finally, Citigroup raised their price target on shares of Fortive from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, December 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.85.

Fortive Profile

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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.

Further Reading

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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