King Luther Capital Management Corp Sells 126,894 Shares of Fortive Corporation $FTV

King Luther Capital Management Corp trimmed its position in Fortive Corporation (NYSE:FTV) by 22.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 447,558 shares of the technology company’s stock after selling 126,894 shares during the period. King Luther Capital Management Corp owned about 0.13% of Fortive worth $23,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dodge & Cox increased its holdings in Fortive by 181.5% during the first quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after buying an additional 14,120,456 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock worth $959,567,000 after buying an additional 4,382,242 shares during the period. Flossbach Von Storch SE grew its stake in shares of Fortive by 1.6% during the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock valued at $627,825,000 after acquiring an additional 189,027 shares during the period. Invesco Ltd. increased its holdings in Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock worth $411,781,000 after acquiring an additional 2,764,432 shares in the last quarter. Finally, Select Equity Group L.P. raised its stake in Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after acquiring an additional 212,025 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Fortive Stock Performance

Fortive stock opened at $51.22 on Monday. The company’s 50-day moving average price is $49.06 and its 200-day moving average price is $56.44. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a market cap of $16.27 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.09 and a beta of 1.16. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32.

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. The company had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. On average, equities research analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on FTV shares. Melius downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research report on Tuesday, July 22nd. Robert W. Baird raised their price target on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings lowered Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised Fortive to a “hold” rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.29.

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.