TD Asset Management Inc. Acquires 27,567 Shares of Fortive Corp (FTV)

TD Asset Management Inc. lifted its holdings in shares of Fortive Corp (NYSE:FTV) by 7.0% in the third quarter, Holdings Channel reports. The institutional investor owned 421,717 shares of the technology company’s stock after purchasing an additional 27,567 shares during the quarter. TD Asset Management Inc.’s holdings in Fortive were worth $35,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Toth Financial Advisory Corp grew its position in shares of Fortive by 105.2% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock valued at $106,000 after buying an additional 705 shares during the last quarter. Wharton Business Group LLC bought a new stake in shares of Fortive during the 2nd quarter valued at about $932,000. Fort L.P. bought a new position in Fortive in the 2nd quarter worth about $122,000. Flagship Harbor Advisors LLC bought a new position in Fortive in the 2nd quarter worth about $132,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Fortive by 5,816.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,745 shares during the last quarter. 85.24% of the stock is owned by institutional investors and hedge funds.

FTV has been the subject of several recent analyst reports. SunTrust Banks decreased their target price on shares of Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Monday, October 1st. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. Argus upped their target price on shares of Fortive to $94.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $87.18.

In other news, insider James A. Lico sold 123,298 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total value of $9,297,902.18. Following the completion of the sale, the insider now directly owns 357,460 shares of the company’s stock, valued at approximately $26,956,058.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Emily A. Weaver sold 9,271 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $75.41, for a total transaction of $699,126.11. Following the completion of the sale, the vice president now directly owns 9,279 shares of the company’s stock, valued at $699,729.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,009 shares of company stock valued at $10,031,955. Company insiders own 12.10% of the company’s stock.

NYSE FTV opened at $76.89 on Friday. Fortive Corp has a 52 week low of $69.03 and a 52 week high of $88.34. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $25.34 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 2.10 and a beta of 0.98.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. Fortive had a return on equity of 24.91% and a net margin of 15.72%. As a group, equities analysts expect that Fortive Corp will post 3 earnings per share for the current year.

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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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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