Somerville Kurt F boosted its stake in Fortive Corp (NYSE:FTV) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,204 shares of the technology company’s stock after buying an additional 3,266 shares during the quarter. Somerville Kurt F’s holdings in Fortive were worth $3,776,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. North Star Asset Management Inc. raised its holdings in Fortive by 0.4% in the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock valued at $488,000 after acquiring an additional 32 shares during the last quarter. Princeton Portfolio Strategies Group LLC raised its holdings in Fortive by 1.6% in the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 5,568 shares of the technology company’s stock valued at $353,000 after acquiring an additional 90 shares during the last quarter. J.P. Marvel Investment Advisors LLC raised its holdings in Fortive by 0.5% in the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock valued at $1,063,000 after acquiring an additional 90 shares during the last quarter. Security National Bank of SO Dak raised its holdings in Fortive by 2.1% in the 2nd quarter. Security National Bank of SO Dak now owns 10,093 shares of the technology company’s stock valued at $639,000 after acquiring an additional 205 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in Fortive by 2.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 7,875 shares of the technology company’s stock valued at $499,000 after acquiring an additional 211 shares during the last quarter. 78.96% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on FTV. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BMO Capital Markets reiterated a “buy” rating and issued a $88.00 price objective on shares of Fortive in a report on Friday, January 26th. Royal Bank of Canada reiterated a “hold” rating and issued a $79.00 price objective on shares of Fortive in a report on Thursday, January 4th. Finally, UBS Group began coverage on shares of Fortive in a report on Monday, January 22nd. They issued a “buy” rating for the company. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Fortive currently has an average rating of “Hold” and a consensus price target of $73.30.
Shares of Fortive Corp (NYSE FTV) opened at $75.35 on Monday. The stock has a market cap of $26,188.57, a P/E ratio of 27.30, a PEG ratio of 2.31 and a beta of 0.51. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. Fortive Corp has a 1-year low of $54.88 and a 1-year high of $76.68.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s dividend payout ratio is currently 10.57%.
In other news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.10% of the stock is owned by company insiders.
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Fortive Company Profile
Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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