Steward Partners Investment Advisory LLC Acquires Shares of 1,920 Fortive Corp (FTV)

Steward Partners Investment Advisory LLC acquired a new stake in Fortive Corp (NYSE:FTV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,920 shares of the technology company’s stock, valued at approximately $135,000.

A number of other large investors also recently modified their holdings of FTV. Capital World Investors lifted its stake in Fortive by 37.9% in the 2nd quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock valued at $622,996,000 after purchasing an additional 2,701,496 shares during the last quarter. BlackRock Inc. lifted its stake in Fortive by 11.7% in the 2nd quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock valued at $1,171,255,000 after purchasing an additional 1,934,309 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Fortive by 261.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,948,537 shares of the technology company’s stock valued at $123,442,000 after purchasing an additional 1,410,000 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Fortive by 41.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock valued at $210,997,000 after purchasing an additional 971,997 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in Fortive by 49.7% in the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock valued at $154,483,000 after purchasing an additional 724,400 shares during the last quarter. 78.75% of the stock is owned by institutional investors and hedge funds.

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

Fortive Corp (FTV) opened at $72.80 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54. Fortive Corp has a 12-month low of $52.99 and a 12-month high of $75.69. The stock has a market cap of $25,368.33, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.52 and a beta of 0.38.

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

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 22nd. Fortive’s dividend payout ratio (DPR) is presently 10.57%.

Several equities analysts recently commented on FTV shares. SunTrust Banks reissued a “buy” rating and issued a $81.00 price objective on shares of Fortive in a research note on Friday, October 27th. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, September 26th. Royal Bank of Canada reissued a “hold” rating and issued a $70.00 price objective on shares of Fortive in a research note on Wednesday, October 11th. Citigroup upped their price target on shares of Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target 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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