AMP Capital Investors Ltd Lowers Holdings in Fortive Corp (FTV)
AMP Capital Investors Ltd decreased its holdings in shares of Fortive Corp (NYSE:FTV) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,926 shares of the technology company’s stock after selling 1,182 shares during the period. AMP Capital Investors Ltd’s holdings in Fortive were worth $7,695,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parsons Capital Management Inc. RI grew its stake in shares of Fortive by 1.6% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 42,383 shares of the technology company’s stock worth $3,268,000 after acquiring an additional 650 shares in the last quarter. State Treasurer State of Michigan grew its stake in shares of Fortive by 0.8% in the 2nd quarter. State Treasurer State of Michigan now owns 90,819 shares of the technology company’s stock worth $7,003,000 after acquiring an additional 700 shares in the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC grew its stake in shares of Fortive by 0.8% in the 3rd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 91,301 shares of the technology company’s stock worth $7,688,000 after acquiring an additional 711 shares in the last quarter. Zions Bancorporation grew its stake in shares of Fortive by 17.5% in the 2nd quarter. Zions Bancorporation now owns 4,787 shares of the technology company’s stock worth $369,000 after acquiring an additional 713 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Fortive by 1.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 72,362 shares of the technology company’s stock worth $6,093,000 after acquiring an additional 733 shares in the last quarter.
FTV opened at $69.94 on Friday. The stock has a market cap of $24.33 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.98 and a quick ratio of 0.79. Fortive Corp has a fifty-two week low of $69.03 and a fifty-two week high of $88.34.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.28 annualized dividend and a yield of 0.40%. Fortive’s payout ratio is currently 9.69%.
Several analysts have recently issued reports on the stock. Gordon Haskett assumed coverage on shares of Fortive in a research note on Friday, October 12th. They issued a “buy” rating for the company. Morgan Stanley set a $90.00 target price on shares of Fortive and gave the stock an “equal weight” rating in a research note on Tuesday, October 2nd. Argus increased their price target on shares of Fortive from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. Finally, Credit Suisse Group reduced their price target on shares of Fortive from $89.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Fortive presently has an average rating of “Buy” and a consensus price target of $86.73.
In other Fortive news, SVP Stacey A. Walker sold 468 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $75.26, for a total transaction of $35,221.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James A. Lico sold 123,298 shares of the stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $75.41, for a total transaction of $9,297,902.18. Following the transaction, the insider now owns 357,460 shares of the company’s stock, valued at approximately $26,956,058.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,382 shares of company stock valued at $10,729,598. 12.10% of the stock is 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.
Recommended Story: Bond
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).
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.