North American Management Corp Reduces Stake in Fortive Corporation (NYSE:FTV)

North American Management Corp lowered its stake in Fortive Corporation (NYSE:FTV) by 3.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Fortive Corporation by 2,497.9% in the first quarter. BlackRock Inc. now owns 16,554,349 shares of the technology company’s stock valued at $996,902,000 after buying an additional 15,917,140 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in shares of Fortive Corporation during the first quarter valued at approximately $115,464,000. Marshall Wace North America L.P. bought a new position in shares of Fortive Corporation during the first quarter valued at approximately $115,464,000. Prudential Financial Inc. boosted its position in shares of Fortive Corporation by 109.8% in the first quarter. Prudential Financial Inc. now owns 2,160,610 shares of the technology company’s stock valued at $130,112,000 after buying an additional 1,130,600 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of Fortive Corporation by 149.5% in the first quarter. William Blair Investment Management LLC now owns 1,880,734 shares of the technology company’s stock valued at $113,258,000 after buying an additional 1,126,991 shares during the period. 79.85% of the stock is owned by institutional investors.

Shares of Fortive Corporation (NYSE:FTV) opened at 65.60 on Friday. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $67.48. The company’s 50-day moving average price is $64.42 and its 200-day moving average price is $61.24. The firm has a market cap of $22.77 billion, a P/E ratio of 25.84 and a beta of 0.23.

Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 32.88%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, analysts predict that Fortive Corporation will post $2.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Wednesday, August 23rd. Fortive Corporation’s dividend payout ratio is presently 11.02%.

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FTV has been the subject of several recent research reports. Morgan Stanley cut Fortive Corporation from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $61.00 to $65.00 in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Cowen and Company increased their price target on Fortive Corporation from $46.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, April 19th. Zacks Investment Research lowered Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Finally, Stifel Nicolaus restated a “hold” rating and issued a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.82.

In other news, VP Raj Ratnakar sold 11,642 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $62.31, for a total transaction of $725,413.02. Following the sale, the vice president now directly owns 5,020 shares in the company, valued at approximately $312,796.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 12.10% of the company’s stock.

About Fortive Corporation

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.

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

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