River & Mercantile Asset Management LLP Buys New Shares in Fortive Corp (NYSE:FTV)

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River & Mercantile Asset Management LLP bought a new stake in Fortive Corp (NYSE:FTV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500 shares of the technology company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FTV. Atria Investments LLC boosted its position in Fortive by 7.8% during the second quarter. Atria Investments LLC now owns 12,974 shares of the technology company’s stock valued at $896,000 after buying an additional 944 shares during the period. Meadow Creek Investment Management LLC boosted its position in Fortive by 43.1% during the second quarter. Meadow Creek Investment Management LLC now owns 356,950 shares of the technology company’s stock valued at $29,099,000 after buying an additional 107,536 shares during the period. Chesapeake Wealth Management boosted its position in Fortive by 35.2% during the second quarter. Chesapeake Wealth Management now owns 10,623 shares of the technology company’s stock valued at $866,000 after buying an additional 2,763 shares during the period. Chicago Equity Partners LLC purchased a new stake in Fortive during the second quarter valued at about $241,000. Finally, National Pension Service boosted its position in Fortive by 4.1% during the second quarter. National Pension Service now owns 423,874 shares of the technology company’s stock valued at $34,554,000 after buying an additional 16,681 shares during the period. 82.60% of the stock is currently owned by institutional investors and hedge funds.

Fortive stock opened at $67.95 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $68.30 and a 200-day moving average of $77.26. The firm has a market cap of $21.77 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.48 and a beta of 1.21. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.01. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. Fortive had a net margin of 38.22% and a return on equity of 18.43%. Fortive’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Research analysts forecast that Fortive Corp will post 3.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.28 annualized dividend and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 9.15%.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the sale, the senior vice president now directly owns 20,015 shares in the company, valued at $1,415,060.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.70% of the company’s stock.

Several analysts have issued reports on the stock. Credit Suisse Group restated a “hold” rating and set a $76.00 price target on shares of Fortive in a research report on Tuesday, September 10th. Morgan Stanley dropped their target price on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday. Gordon Haskett lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Barclays dropped their target price on shares of Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Zacks Investment Research upgraded shares of Fortive from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.55.

Fortive Company Profile

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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