Oppenheimer Asset Management Inc. Has $756,000 Position in Fortive Corporation (FTV)

Oppenheimer Asset Management Inc. cut its stake in Fortive Corporation (NYSE:FTV) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,685 shares of the technology company’s stock after selling 2,278 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Fortive were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. AMP Capital Investors Ltd boosted its holdings in Fortive by 14.1% in the third quarter. AMP Capital Investors Ltd now owns 124,129 shares of the technology company’s stock valued at $8,787,000 after acquiring an additional 15,373 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Fortive by 9.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 40,378 shares of the technology company’s stock valued at $2,858,000 after buying an additional 3,335 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in Fortive by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 71,200 shares of the technology company’s stock valued at $5,061,000 after buying an additional 1,400 shares during the period. Engineers Gate Manager LP acquired a new position in Fortive in the third quarter valued at approximately $1,800,000. Finally, Private Advisor Group LLC acquired a new position in Fortive in the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 78.96% of the company’s stock.

Fortive Corporation (FTV) opened at $72.06 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. Fortive Corporation has a 12-month low of $52.99 and a 12-month high of $75.69. The firm has a market capitalization of $24,815.71, a P/E ratio of 25.87, a PEG ratio of 2.46 and a beta of 0.38.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. Fortive’s revenue for the quarter was up 7.4% on a year-over-year basis. research analysts predict that Fortive Corporation will post 2.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th 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 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive’s payout ratio is 10.57%.

In other news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the transaction, the insider now directly owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Morgan Stanley reissued an “equal weight” rating and issued a $72.00 price target (up from $71.00) on shares of Fortive in a research note on Monday, October 2nd. Citigroup boosted their price target on Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Stifel Nicolaus boosted their price target on Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.27.

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Fortive 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.

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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