FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Stock Position in Fortive Corp (NYSE:FTV)

Share on StockTwits

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its stake in Fortive Corp (NYSE:FTV) by 13.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,911 shares of the technology company’s stock after acquiring an additional 1,288 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Fortive were worth $739,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in FTV. Alyeska Investment Group L.P. boosted its stake in shares of Fortive by 92.3% in the first quarter. Alyeska Investment Group L.P. now owns 572,447 shares of the technology company’s stock valued at $31,593,000 after purchasing an additional 274,734 shares during the period. Diversified Trust Co boosted its holdings in Fortive by 36.8% in the second quarter. Diversified Trust Co now owns 15,255 shares of the technology company’s stock valued at $1,032,000 after purchasing an additional 4,104 shares during the period. Principal Financial Group Inc. boosted its holdings in Fortive by 1.1% in the first quarter. Principal Financial Group Inc. now owns 426,959 shares of the technology company’s stock valued at $23,562,000 after purchasing an additional 4,467 shares during the period. APG Asset Management N.V. grew its stake in Fortive by 28.3% during the 1st quarter. APG Asset Management N.V. now owns 552,855 shares of the technology company’s stock worth $30,512,000 after purchasing an additional 121,932 shares in the last quarter. Finally, DNB Asset Management AS increased its holdings in Fortive by 5.6% during the 2nd quarter. DNB Asset Management AS now owns 65,596 shares of the technology company’s stock worth $4,438,000 after purchasing an additional 3,455 shares during the period. 82.54% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP William W. Pringle sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $62.86, for a total transaction of $314,300.00. Following the transaction, the senior vice president now owns 69,183 shares of the company’s stock, valued at $4,348,843.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan G. Spoon purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $54.46 per share, for a total transaction of $1,089,200.00. Over the last 90 days, insiders have sold 117,963 shares of company stock worth $7,750,899. Insiders own 12.60% of the company’s stock.

A number of equities analysts have recently commented on the company. Credit Suisse Group boosted their price objective on Fortive from $76.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday. Rosenblatt Securities boosted their price target on shares of Fortive from $68.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada restated a “hold” rating and issued a $74.00 price objective on shares of Fortive in a report on Thursday. Vertical Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, June 5th. Finally, Robert W. Baird upgraded Fortive from a “neutral” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, June 25th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.38.

Shares of FTV stock traded down $1.97 during mid-day trading on Friday, hitting $70.19. 2,907,660 shares of the stock were exchanged, compared to its average volume of 1,652,919. The stock’s fifty day simple moving average is $68.55 and its two-hundred day simple moving average is $65.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.32 and a current ratio of 1.13. Fortive Corp has a 12-month low of $37.31 and a 12-month high of $80.61. The stock has a market capitalization of $23.66 billion, a price-to-earnings ratio of 47.43, a P/E/G ratio of 4.47 and a beta of 1.24.

Fortive (NYSE:FTV) last announced its earnings results on Tuesday, July 28th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Fortive had a return on equity of 16.22% and a net margin of 8.00%. The business’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. On average, research analysts expect that Fortive Corp will post 3.02 earnings per share for the current fiscal year.

About Fortive

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: What is the Dow Jones Industrial Average (DJIA)?

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.