North American Management Corp Sells 2,772 Shares of Fortive Corporation (NYSE:FTV)

North American Management Corp reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,927 shares of the technology company’s stock after selling 2,772 shares during the period. North American Management Corp’s holdings in Fortive Corporation were worth $4,557,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC bought a new stake in Fortive Corporation during the first quarter valued at $102,000. Jacobi Capital Management LLC boosted its stake in Fortive Corporation by 25.5% in the first quarter. Jacobi Capital Management LLC now owns 1,724 shares of the technology company’s stock valued at $104,000 after buying an additional 350 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Fortive Corporation by 20.0% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,800 shares of the technology company’s stock valued at $108,000 after buying an additional 300 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares during the last quarter. Finally, First Personal Financial Services boosted its stake in Fortive Corporation by 17.3% in the first quarter. First Personal Financial Services now owns 2,372 shares of the technology company’s stock valued at $142,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.

Shares of Fortive Corporation (FTV) traded down 0.65% during mid-day trading on Monday, hitting $64.14. 1,388,224 shares of the company were exchanged. Fortive Corporation has a 12-month low of $46.81 and a 12-month high of $65.21. The firm has a market capitalization of $22.23 billion and a P/E ratio of 25.16. The company’s 50-day moving average price is $63.14 and its 200-day moving average price is $59.09. Fortive Corporation also saw unusually large options trading activity on Friday. Traders acquired 4,035 put options on the stock. This represents an increase of 956% compared to the average daily volume of 382 put options.

Fortive Corporation (NYSE:FTV) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. Fortive Corporation had a net margin of 14.16% and a return on equity of 34.24%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Fortive Corporation’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that Fortive Corporation will post $2.75 earnings per share for the current fiscal year.

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FTV has been the subject of several research reports. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, April 12th. SunTrust Banks, Inc. upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Wednesday, March 29th. Barclays PLC set a $66.00 price target on shares of Fortive Corporation and gave the stock a “buy” rating in a research note on Sunday, April 30th. Morgan Stanley cut shares of Fortive Corporation from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $61.00 to $65.00 in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Fortive Corporation currently has an average rating of “Hold” and a consensus price target of $59.92.

In other news, VP Emily A. Weaver sold 3,749 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.27, for a total transaction of $233,450.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James A. Lico sold 131,994 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $62.34, for a total transaction of $8,228,505.96. Following the sale, the insider now owns 191,101 shares of the company’s stock, valued at $11,913,236.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,385 shares of company stock valued at $9,187,369.

Fortive Corporation 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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Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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