Garrison Point Advisors LLC Lowers Stock Holdings in Fortive Corp (NYSE:FTV)

Garrison Point Advisors LLC lowered its position in Fortive Corp (NYSE:FTV) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,615 shares of the technology company’s stock after selling 140 shares during the period. Garrison Point Advisors LLC’s holdings in Fortive were worth $1,040,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Private Advisor Group LLC bought a new position in shares of Fortive in the second quarter worth about $476,000. Man Group plc raised its stake in Fortive by 70.5% during the 2nd quarter. Man Group plc now owns 57,815 shares of the technology company’s stock valued at $4,713,000 after purchasing an additional 23,913 shares during the period. AQR Capital Management LLC lifted its holdings in Fortive by 38.0% in the 2nd quarter. AQR Capital Management LLC now owns 184,897 shares of the technology company’s stock worth $15,073,000 after purchasing an additional 50,866 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Fortive by 43.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 19,485 shares of the technology company’s stock worth $1,588,000 after purchasing an additional 5,880 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in Fortive by 342.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock worth $55,000 after purchasing an additional 521 shares in the last quarter. Institutional investors and hedge funds own 82.49% of the company’s stock.

Several research firms have recently issued reports on FTV. Wolfe Research upgraded shares of Fortive from a “peer perform” rating to an “outperform” rating in a research report on Thursday, January 9th. Royal Bank of Canada reiterated a “hold” rating and set a $79.00 price objective on shares of Fortive in a research report on Wednesday, December 18th. Rosenblatt Securities reiterated a “hold” rating and issued a $77.00 price target on shares of Fortive in a report on Wednesday, December 11th. Citigroup raised shares of Fortive from a “neutral” rating to a “buy” rating and increased their price objective for the company from $76.00 to $84.00 in a report on Monday, December 9th. Finally, Credit Suisse Group upgraded Fortive from a “neutral” rating to an “outperform” rating and set a $82.00 target price on the stock in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. Fortive currently has an average rating of “Buy” and a consensus target price of $81.85.

In related news, SVP Martin Gafinowitz sold 30,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $71.27, for a total transaction of $2,138,100.00. Following the completion of the transaction, the senior vice president now owns 101,169 shares in the company, valued at approximately $7,210,314.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.70% of the stock is currently owned by company insiders.

Fortive stock traded down $0.85 during midday trading on Friday, reaching $76.74. The stock had a trading volume of 65,618 shares, compared to its average volume of 1,374,881. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72. The firm has a market cap of $26.08 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 3.66 and a beta of 1.22. Fortive Corp has a 52-week low of $63.51 and a 52-week high of $89.48. The company has a fifty day moving average of $76.56 and a 200 day moving average of $72.81.

Fortive (NYSE:FTV) last released its earnings results on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Fortive had a return on equity of 17.41% and a net margin of 37.57%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. Equities research analysts predict that Fortive Corp will post 3.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Wednesday, November 27th. Fortive’s dividend payout ratio is currently 9.15%.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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