IFM Investors Pty Ltd Purchases New Position in Fortive Corporation (FTV)

IFM Investors Pty Ltd purchased a new position in shares of Fortive Corporation (NYSE:FTV) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,404 shares of the technology company’s stock, valued at approximately $666,000.

A number of other large investors have also modified their holdings of the stock. Mirador Capital Partners LP lifted its stake in shares of Fortive by 0.4% in the 2nd quarter. Mirador Capital Partners LP now owns 6,013 shares of the technology company’s stock worth $404,000 after acquiring an additional 26 shares during the period. North Star Asset Management Inc. lifted its stake in shares of Fortive by 0.4% in the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock worth $488,000 after acquiring an additional 32 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Fortive by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,402 shares of the technology company’s stock worth $1,419,000 after acquiring an additional 72 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Fortive by 2.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,847 shares of the technology company’s stock worth $180,000 after acquiring an additional 77 shares during the period. Finally, J.P. Marvel Investment Advisors LLC lifted its stake in shares of Fortive by 0.5% in the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock worth $1,063,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 78.96% of the company’s stock.

Fortive Corporation (NYSE:FTV) opened at $72.41 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. The stock has a market cap of $25,204.98, a PE ratio of 26.27, a PEG ratio of 2.50 and a beta of 0.38. Fortive Corporation has a twelve month low of $52.99 and a twelve month high of $75.69.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. analysts forecast that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive’s dividend payout ratio (DPR) is currently 10.57%.

In other Fortive news, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the transaction, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.

Several research firms have recently commented on FTV. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Tuesday, September 26th. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $72.00 price target (up previously from $71.00) on shares of Fortive in a report on Monday, October 2nd. Finally, Stifel Nicolaus increased their price target on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a report on Friday, October 27th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.27.

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Fortive Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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