Burns J W & Co. Inc. NY Cuts Stock Position in Fortive Corp (NYSE:FTV)

Burns J W & Co. Inc. NY cut its stake in shares of Fortive Corp (NYSE:FTV) by 13.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,772 shares of the technology company’s stock after selling 878 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Fortive were worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Northern Trust Corp boosted its holdings in Fortive by 0.7% during the 2nd quarter. Northern Trust Corp now owns 4,346,853 shares of the technology company’s stock valued at $354,356,000 after acquiring an additional 28,760 shares during the period. Nuveen Asset Management LLC boosted its holdings in Fortive by 23,241.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock valued at $318,466,000 after acquiring an additional 3,889,862 shares during the period. Winslow Capital Management LLC boosted its holdings in Fortive by 7.7% during the 2nd quarter. Winslow Capital Management LLC now owns 2,398,305 shares of the technology company’s stock valued at $195,509,000 after acquiring an additional 171,237 shares during the period. Schroder Investment Management Group boosted its holdings in Fortive by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after acquiring an additional 287,449 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in Fortive by 19.5% during the 2nd quarter. Baillie Gifford & Co. now owns 1,873,187 shares of the technology company’s stock valued at $152,702,000 after acquiring an additional 305,037 shares during the period. Institutional investors own 82.60% of the company’s stock.

Several equities research analysts recently weighed in on FTV shares. Credit Suisse Group restated a “hold” rating and set a $76.00 target price on shares of Fortive in a report on Tuesday, September 10th. Barclays dropped their target price on Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Gordon Haskett cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Raymond James set a $84.00 target price on Fortive and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Morgan Stanley dropped their target price on Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $79.55.

FTV opened at $67.95 on Friday. The business has a 50 day simple moving average of $68.30 and a two-hundred day simple moving average of $77.26. The firm has a market capitalization of $21.55 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.45 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. Fortive Corp has a one year low of $62.89 and a one year high of $89.48.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. Fortive’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, sell-side analysts expect that Fortive Corp will post 3.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, August 29th. Fortive’s payout ratio is 9.15%.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the transaction, the senior vice president now owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.70% of the company’s stock.

Fortive 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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