Fiduciary Trust Co Raises Holdings in Fortive Co. (NYSE:FTV)

Fiduciary Trust Co boosted its stake in Fortive Co. (NYSE:FTV) by 4.5% in the 4th quarter, Holdings Channel reports. The firm owned 5,770 shares of the technology company’s stock after buying an additional 250 shares during the quarter. Fiduciary Trust Co’s holdings in Fortive were worth $433,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FTV. First Manhattan CO. LLC. grew its stake in Fortive by 1.4% in the fourth quarter. First Manhattan CO. LLC. now owns 1,391,075 shares of the technology company’s stock worth $104,331,000 after purchasing an additional 19,742 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in Fortive by 3.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 195,544 shares of the technology company’s stock worth $14,666,000 after buying an additional 5,762 shares during the last quarter. Deutsche Bank AG grew its position in Fortive by 23.0% during the 4th quarter. Deutsche Bank AG now owns 1,472,623 shares of the technology company’s stock worth $110,447,000 after purchasing an additional 275,790 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Fortive by 261.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,420 shares of the technology company’s stock valued at $406,000 after buying an additional 3,920 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in shares of Fortive by 10.4% in the 4th quarter. EP Wealth Advisors LLC now owns 13,644 shares of the technology company’s stock valued at $1,023,000 after purchasing an additional 1,280 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Up 0.9%

Fortive stock opened at $70.45 on Monday. The company has a market capitalization of $23.94 billion, a PE ratio of 29.85, a PEG ratio of 2.68 and a beta of 1.10. The firm’s fifty day moving average is $70.07 and its 200 day moving average is $74.91. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, sell-side analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s payout ratio is 14.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada upped their target price on shares of Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Robert W. Baird reduced their target price on shares of Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Citigroup reduced their target price on shares of Fortive from $84.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Barclays cut their price objective on shares of Fortive from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.85.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. This represents a 29.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by corporate insiders.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.