Steward Partners Investment Advisory LLC Purchases Shares of 2,674 Fortive Corp (NYSE:FTV)

Share on StockTwits

Steward Partners Investment Advisory LLC purchased a new stake in Fortive Corp (NYSE:FTV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,674 shares of the technology company’s stock, valued at approximately $218,000.

A number of other institutional investors have also recently bought and sold shares of the business. Chemical Bank grew its stake in shares of Fortive by 17.5% in the 2nd quarter. Chemical Bank now owns 5,865 shares of the technology company’s stock valued at $479,000 after purchasing an additional 873 shares during the period. Ballentine Partners LLC grew its stake in shares of Fortive by 13.1% in the 2nd quarter. Ballentine Partners LLC now owns 4,468 shares of the technology company’s stock valued at $365,000 after purchasing an additional 519 shares during the period. Rice Partnership LLC grew its stake in shares of Fortive by 1.2% in the 2nd quarter. Rice Partnership LLC now owns 16,930 shares of the technology company’s stock valued at $1,380,000 after purchasing an additional 200 shares during the period. Fulton Breakefield Broenniman LLC grew its stake in shares of Fortive by 1.4% in the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 152,719 shares of the technology company’s stock valued at $12,450,000 after purchasing an additional 2,052 shares during the period. Finally, Mitchell Capital Management Co. bought a new stake in Fortive during the 2nd quarter worth approximately $202,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Shares of FTV opened at $70.01 on Wednesday. The company has a market cap of $23.66 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The company has a fifty day moving average price of $77.93. Fortive Corp has a 52 week low of $62.89 and a 52 week high of $89.48.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.01. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 EPS. On average, equities analysts forecast that Fortive Corp will post 3.53 earnings per share for the current fiscal year.

A number of research firms recently commented on FTV. Raymond James set a $84.00 price target on Fortive and gave the stock an “outperform” rating in a research report on Friday, July 26th. Berenberg Bank initiated coverage on Fortive in a research report on Wednesday, May 15th. They set a “buy” rating and a $96.00 price target on the stock. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Cowen lowered Fortive from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $75.00 to $65.00 in a research report on Monday, June 3rd. Finally, Morgan Stanley lowered Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price objective on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $85.87.

In other news, insider Martin Gafinowitz sold 20,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $81.74, for a total value of $1,634,800.00. Following the transaction, the insider now owns 91,688 shares of the company’s stock, valued at approximately $7,494,577.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the transaction, the senior vice president now directly owns 20,015 shares in the company, valued at approximately $1,415,060.50. The disclosure for this sale can be found here. In the last three months, insiders sold 54,965 shares of company stock worth $4,112,161. 12.70% of the stock is currently owned by company insiders.

Fortive Company 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.

Featured Story: Arbitrage

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corp (NYSE:FTV).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.