Bank of Montreal Can Grows Stake in Fortive Corporation $FTV

Bank of Montreal Can increased its position in Fortive Corporation (NYSE:FTV) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 321,742 shares of the technology company’s stock after acquiring an additional 1,613 shares during the quarter. Bank of Montreal Can’s holdings in Fortive were worth $16,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FTV. Private Advisor Group LLC bought a new stake in Fortive during the first quarter valued at about $876,000. Whittier Trust Co. lifted its position in shares of Fortive by 6.8% during the 2nd quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock valued at $18,494,000 after buying an additional 22,443 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Fortive during the 1st quarter valued at about $1,434,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Fortive by 2,408.4% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 128,031 shares of the technology company’s stock valued at $9,409,000 after acquiring an additional 122,927 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Fortive by 49.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,530,596 shares of the technology company’s stock worth $185,189,000 after acquiring an additional 835,277 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.

Fortive Stock Performance

Shares of NYSE FTV opened at $51.22 on Friday. The company has a market cap of $16.27 billion, a P/E ratio of 29.27, a P/E/G ratio of 3.08 and a beta of 1.16. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The firm’s fifty day moving average is $49.06 and its two-hundred day moving average is $56.58.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The firm had revenue of $1.07 billion during the quarter. As a group, analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, November 28th. Fortive’s dividend payout ratio (DPR) is currently 13.71%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings raised shares of Fortive from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their target price on shares of Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Barclays increased their price target on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Finally, Robert W. Baird boosted their price objective on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday. Three analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.29.

About Fortive

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.