Fortive Corp (FTV) Shares Sold by William Blair Investment Management LLC
William Blair Investment Management LLC reduced its position in shares of Fortive Corp (NYSE:FTV) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,439,997 shares of the technology company’s stock after selling 419,230 shares during the period. William Blair Investment Management LLC owned approximately 0.41% of Fortive worth $104,184,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Fortive by 1.7% in the 4th quarter. BlackRock Inc. now owns 20,013,760 shares of the technology company’s stock worth $1,447,996,000 after purchasing an additional 336,327 shares in the last quarter. Brown Advisory Inc. increased its stake in Fortive by 2.7% in the 4th quarter. Brown Advisory Inc. now owns 6,447,021 shares of the technology company’s stock worth $466,443,000 after purchasing an additional 168,219 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Fortive by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,887,383 shares of the technology company’s stock worth $281,251,000 after purchasing an additional 101,819 shares in the last quarter. Bessemer Group Inc. increased its stake in Fortive by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 3,852,139 shares of the technology company’s stock worth $278,702,000 after purchasing an additional 14,898 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Fortive by 2.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,547,568 shares of the technology company’s stock worth $256,667,000 after purchasing an additional 68,079 shares in the last quarter. 81.27% of the stock is currently owned by hedge funds and other institutional investors.
Fortive stock opened at $78.35 on Thursday. The company has a market capitalization of $27,202.15, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.42. The company has a quick ratio of 1.47, a current ratio of 1.83 and a debt-to-equity ratio of 1.07. Fortive Corp has a 1 year low of $58.15 and a 1 year high of $80.31.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, February 22nd. Fortive’s dividend payout ratio is presently 9.46%.
A number of brokerages recently weighed in on FTV. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Friday, March 9th. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Argus upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets reiterated a “buy” rating and set a $88.00 price target on shares of Fortive in a report on Friday, January 26th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $79.00 price target on shares of Fortive in a report on Thursday, January 4th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $77.50.
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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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