Aperio Group LLC Grows Position in Fortive Corp (FTV)

Aperio Group LLC lifted its stake in Fortive Corp (NYSE:FTV) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 269,642 shares of the technology company’s stock after buying an additional 3,735 shares during the period. Aperio Group LLC’s holdings in Fortive were worth $22,704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FTV. FMR LLC lifted its stake in Fortive by 20.0% during the second quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock worth $1,831,768,000 after purchasing an additional 3,960,523 shares during the period. Artisan Partners Limited Partnership bought a new position in Fortive during the second quarter worth about $185,524,000. Massachusetts Financial Services Co. MA lifted its stake in Fortive by 23.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,150,214 shares of the technology company’s stock worth $397,134,000 after purchasing an additional 984,564 shares during the period. Findlay Park Partners LLP bought a new position in Fortive during the second quarter worth about $69,399,000. Finally, Jennison Associates LLC bought a new position in Fortive during the second quarter worth about $48,009,000. Hedge funds and other institutional investors own 81.51% of the company’s stock.

NYSE FTV opened at $77.69 on Tuesday. The company has a market cap of $27.86 billion, a PE ratio of 26.88, a PEG ratio of 1.92 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.96 and a quick ratio of 1.68. Fortive Corp has a 1-year low of $69.03 and a 1-year high of $88.34.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. Equities analysts predict that Fortive Corp will post 3.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, August 31st were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Thursday, August 30th. Fortive’s dividend payout ratio is currently 9.69%.

A number of research analysts have commented on FTV shares. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Monday, October 1st. Argus raised their price target on shares of Fortive to $94.00 and gave the stock a “buy” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. UBS Group raised their price objective on shares of Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. Gordon Haskett assumed coverage on shares of Fortive in a report on Friday, October 12th. They set a “buy” rating for the company. Finally, Morgan Stanley set a $90.00 price objective on shares of Fortive and gave the stock an “equal weight” rating in a report on Tuesday, October 2nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $86.33.

In related news, Director Alan G. Spoon purchased 18,000 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was acquired at an average price of $80.80 per share, with a total value of $1,454,400.00. Following the completion of the acquisition, the director now directly owns 48,268 shares in the company, valued at approximately $3,900,054.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raj Ratnakar sold 30,912 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $80.71, for a total transaction of $2,494,907.52. Following the completion of the sale, the vice president now directly owns 13,244 shares of the company’s stock, valued at approximately $1,068,923.24. The disclosure for this sale can be found here. In the last three months, insiders sold 74,602 shares of company stock valued at $6,047,572. 12.20% of the stock is currently owned by company insiders.

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 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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