Sumitomo Mitsui Trust Holdings Inc. Increases Holdings in Fortive Corp (NYSE:FTV)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Fortive Corp (NYSE:FTV) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227,912 shares of the technology company’s stock after purchasing an additional 84,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.37% of Fortive worth $100,099,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Fortive by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock valued at $69,929,000 after buying an additional 158,849 shares during the last quarter. Washington Trust Bank raised its position in Fortive by 34.5% in the 1st quarter. Washington Trust Bank now owns 749 shares of the technology company’s stock valued at $63,000 after buying an additional 192 shares during the last quarter. Huntington National Bank raised its position in Fortive by 12.5% in the 1st quarter. Huntington National Bank now owns 12,812 shares of the technology company’s stock valued at $1,074,000 after buying an additional 1,423 shares during the last quarter. Pacer Advisors Inc. raised its position in Fortive by 21,843.2% in the 1st quarter. Pacer Advisors Inc. now owns 27,429 shares of the technology company’s stock valued at $2,301,000 after buying an additional 27,304 shares during the last quarter. Finally, DNB Asset Management AS raised its position in Fortive by 2.8% in the 1st quarter. DNB Asset Management AS now owns 59,574 shares of the technology company’s stock valued at $4,998,000 after buying an additional 1,644 shares during the last quarter. Hedge funds and other institutional investors own 83.49% of the company’s stock.

Shares of NYSE FTV traded down $1.29 during midday trading on Friday, hitting $70.55. 675,835 shares of the company’s stock were exchanged, compared to its average volume of 1,913,087. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76. Fortive Corp has a 12 month low of $62.89 and a 12 month high of $89.48. The business has a 50 day moving average of $78.94. The company has a market capitalization of $23.96 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 2.10 and a beta of 1.19.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, equities analysts forecast that Fortive Corp will post 3.53 EPS for the current fiscal year.

In other news, VP Emily A. Weaver sold 650 shares of Fortive stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $80.92, for a total transaction of $52,598.00. Following the completion of the transaction, the vice president now directly owns 9,146 shares in the company, valued at approximately $740,094.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the transaction, the senior vice president now owns 20,015 shares of the company’s stock, valued at $1,415,060.50. The disclosure for this sale can be found here. Insiders have sold a total of 55,615 shares of company stock valued at $4,164,759 over the last quarter. 12.70% of the stock is currently owned by corporate insiders.

FTV has been the topic of a number of recent research reports. Morgan Stanley lowered Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 target price on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Berenberg Bank initiated coverage on Fortive in a research report on Wednesday, May 15th. They set a “buy” rating and a $96.00 price target on the stock. ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Argus reaffirmed a “buy” rating on shares of Fortive in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $85.87.

Fortive Company Profile

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 software, data analytics, and services 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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