Fulton Breakefield Broenniman LLC Acquires 3,415 Shares of Fortive Corp (FTV)

Fulton Breakefield Broenniman LLC raised its holdings in Fortive Corp (NYSE:FTV) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 150,667 shares of the technology company’s stock after acquiring an additional 3,415 shares during the quarter. Fortive makes up about 2.1% of Fulton Breakefield Broenniman LLC’s portfolio, making the stock its 19th largest holding. Fulton Breakefield Broenniman LLC’s holdings in Fortive were worth $12,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTV. Norges Bank bought a new stake in shares of Fortive in the 4th quarter valued at $246,463,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Fortive by 3,401.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock valued at $37,000 after purchasing an additional 2,461,167 shares during the last quarter. Gates Capital Management Inc. bought a new stake in shares of Fortive in the 4th quarter valued at $53,836,000. Deutsche Bank AG boosted its stake in shares of Fortive by 79.0% in the 4th quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock valued at $55,963,000 after purchasing an additional 365,059 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in shares of Fortive in the 4th quarter valued at $17,093,000. Hedge funds and other institutional investors own 85.06% of the company’s stock.

In other Fortive news, VP Jonathan L. Schwarz sold 3,746 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $81.63, for a total value of $305,785.98. Following the transaction, the vice president now directly owns 17,740 shares of the company’s stock, valued at $1,448,116.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stacey A. Walker sold 1,783 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $81.87, for a total transaction of $145,974.21. Following the completion of the transaction, the senior vice president now directly owns 16,036 shares in the company, valued at $1,312,867.32. The disclosure for this sale can be found here. Insiders sold 5,964 shares of company stock worth $486,847 over the last ninety days. Insiders own 12.20% of the company’s stock.

FTV has been the topic of a number of analyst reports. Morgan Stanley raised shares of Fortive from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $84.00 to $82.00 in a research note on Tuesday, December 18th. TheStreet lowered shares of Fortive from a “b-” rating to a “c” rating in a research note on Wednesday, December 19th. Zacks Investment Research lowered shares of Fortive from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Credit Suisse Group reissued a “neutral” rating and set a $78.00 target price (down from $86.00) on shares of Fortive in a research note on Thursday, January 3rd. Finally, William Blair reissued a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $85.90.

NYSE FTV traded up $0.17 on Wednesday, hitting $87.81. 426,855 shares of the company were exchanged, compared to its average volume of 1,167,018. The firm has a market cap of $29.33 billion, a PE ratio of 28.70, a P/E/G ratio of 2.08 and a beta of 1.14. Fortive Corp has a 12 month low of $62.89 and a 12 month high of $88.36. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Fortive had a net margin of 40.50% and a return on equity of 22.42%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. Fortive’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts predict that Fortive Corp will post 3.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Thursday, May 30th. Fortive’s dividend payout ratio (DPR) is 9.15%.

TRADEMARK VIOLATION NOTICE: This piece was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.chaffeybreeze.com/2019/04/17/fulton-breakefield-broenniman-llc-acquires-3415-shares-of-fortive-corp-ftv.html.

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.

Featured Story: How does the Federal Reserve determine interest rates?

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corp (NYSE:FTV).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.