Boston Financial Mangement LLC Cuts Position in Fortive Corporation (FTV)

Boston Financial Mangement LLC decreased its position in shares of Fortive Corporation (NYSE:FTV) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,427 shares of the technology company’s stock after selling 597 shares during the period. Boston Financial Mangement LLC’s holdings in Fortive Corporation were worth $977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hutchens Investment Management Inc increased its position in shares of Fortive Corporation by 132.6% in the first quarter. Hutchens Investment Management Inc now owns 30,397 shares of the technology company’s stock worth $1,830,000 after buying an additional 17,331 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Fortive Corporation by 93.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,600 shares of the technology company’s stock worth $3,050,000 after buying an additional 24,500 shares during the period. Integrated Investment Consultants LLC increased its position in shares of Fortive Corporation by 201.4% in the first quarter. Integrated Investment Consultants LLC now owns 2,670 shares of the technology company’s stock worth $161,000 after buying an additional 1,784 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of Fortive Corporation by 76.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 60,850 shares of the technology company’s stock worth $3,664,000 after buying an additional 26,311 shares during the period. Finally, Nexus Investment Management Inc. increased its position in shares of Fortive Corporation by 8.6% in the first quarter. Nexus Investment Management Inc. now owns 13,000 shares of the technology company’s stock worth $783,000 after buying an additional 1,025 shares during the period. Institutional investors own 78.55% of the company’s stock.

Shares of Fortive Corporation (FTV) opened at 65.03 on Friday. Fortive Corporation has a one year low of $46.81 and a one year high of $67.48. The stock has a market capitalization of $22.57 billion, a PE ratio of 25.61 and a beta of 0.23. The stock’s 50 day moving average price is $64.70 and its 200 day moving average price is $61.61.

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

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

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FTV has been the subject of a number of recent research reports. Morgan Stanley downgraded Fortive Corporation from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $61.00 to $65.00 in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Stifel Nicolaus reiterated a “hold” rating and set a $62.00 price objective on shares of Fortive Corporation in a research note on Sunday, July 30th. Zacks Investment Research cut Fortive Corporation from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $61.82.

In related news, VP Raj Ratnakar sold 11,642 shares of Fortive Corporation stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the transaction, the vice president now owns 5,020 shares in the company, valued at $312,796.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $66.09, for a total value of $433,880.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,956 shares of company stock worth $1,392,744. 12.10% of the stock is currently owned by company insiders.

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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