Train Babcock Advisors LLC Sells 691 Shares of Fortive Corp (FTV)

Train Babcock Advisors LLC lowered its holdings in Fortive Corp (NYSE:FTV) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,932 shares of the technology company’s stock after selling 691 shares during the period. Train Babcock Advisors LLC’s holdings in Fortive were worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FTV. Vanguard Group Inc. increased its position in shares of Fortive by 3.1% in the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after acquiring an additional 620,784 shares in the last quarter. BlackRock Inc. increased its position in shares of Fortive by 11.7% in the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock worth $1,171,255,000 after acquiring an additional 1,934,309 shares in the last quarter. Capital World Investors increased its position in shares of Fortive by 37.9% in the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after acquiring an additional 2,701,496 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Fortive by 41.2% in the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock worth $210,997,000 after acquiring an additional 971,997 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Fortive by 14.0% in the third quarter. JPMorgan Chase & Co. now owns 2,221,540 shares of the technology company’s stock worth $155,332,000 after acquiring an additional 273,003 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors.

In related news, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

FTV has been the topic of several analyst reports. SunTrust Banks reissued a “buy” rating and issued a $81.00 target price on shares of Fortive in a research report on Friday, October 27th. Citigroup lifted their target price on shares of Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Royal Bank of Canada reissued a “hold” rating and issued a $70.00 target price on shares of Fortive in a research report on Wednesday, October 11th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, BMO Capital Markets initiated coverage on shares of Fortive in a research report on Wednesday, November 15th. They issued an “outperform” rating and a $82.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fortive presently has an average rating of “Hold” and an average target price of $71.36.

Shares of Fortive Corp (NYSE:FTV) traded up $0.53 on Wednesday, reaching $73.78. 1,139,100 shares of the company were exchanged, compared to its average volume of 1,411,200. Fortive Corp has a 52-week low of $53.26 and a 52-week high of $75.69. The stock has a market capitalization of $25,550.00 and a P/E ratio of 27.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, November 24th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Wednesday, November 22nd. Fortive’s payout ratio is presently 10.57%.

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About Fortive

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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