John G Ullman & Associates Inc. Makes New Investment in Fortive Corp (NYSE:FTV)

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John G Ullman & Associates Inc. bought a new position in shares of Fortive Corp (NYSE:FTV) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,945 shares of the technology company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FTV. Artisan Partners Limited Partnership lifted its stake in Fortive by 16.1% during the first quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock worth $399,119,000 after purchasing an additional 661,196 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Fortive by 18.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,651,274 shares of the technology company’s stock valued at $134,613,000 after acquiring an additional 257,016 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Fortive by 11.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,034,815 shares of the technology company’s stock valued at $170,701,000 after acquiring an additional 205,445 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in shares of Fortive by 530.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 203,688 shares of the technology company’s stock valued at $17,088,000 after acquiring an additional 171,401 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Fortive by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock valued at $69,929,000 after acquiring an additional 158,849 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

FTV has been the subject of a number of research reports. Morgan Stanley cut Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target for the company. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Cowen cut Fortive from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $75.00 to $65.00 in a research note on Monday, June 3rd. Zacks Investment Research cut Fortive from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Raymond James set a $84.00 price target on Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $85.87.

In related news, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the sale, the senior vice president now directly owns 20,015 shares in the company, valued at $1,415,060.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.70% of the company’s stock.

NYSE FTV traded up $1.60 on Friday, reaching $68.93. The company had a trading volume of 2,400,000 shares, compared to its average volume of 2,034,026. The firm has a market cap of $22.59 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.98 and a beta of 1.19. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The business has a 50 day moving average of $77.18 and a two-hundred day moving average of $80.53. 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 (NYSE:FTV) last posted its quarterly earnings data 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 business had revenue of $1.86 billion during 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%. Fortive’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, research analysts predict that Fortive Corp will post 3.51 earnings per share for the current fiscal year.

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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