Welch & Forbes LLC Has $22.47 Million Holdings in Fortive Corp (NYSE:FTV)

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Welch & Forbes LLC raised its holdings in shares of Fortive Corp (NYSE:FTV) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 327,794 shares of the technology company’s stock after buying an additional 815 shares during the quarter. Welch & Forbes LLC owned about 0.10% of Fortive worth $22,474,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rational Advisors LLC acquired a new position in shares of Fortive during the second quarter worth approximately $33,000. Kavar Capital Partners LLC acquired a new position in shares of Fortive in the second quarter valued at $37,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Fortive in the second quarter valued at $41,000. Kings Point Capital Management acquired a new position in shares of Fortive in the second quarter valued at $41,000. Finally, CSat Investment Advisory L.P. raised its stake in shares of Fortive by 342.8% in the second quarter. CSat Investment Advisory L.P. now owns 673 shares of the technology company’s stock valued at $55,000 after purchasing an additional 521 shares in the last quarter. Institutional investors own 82.60% of the company’s stock.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following 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 hyperlink. Corporate insiders own 12.70% of the company’s stock.

A number of research analysts recently commented on the company. Berenberg Bank set a $86.00 target price on Fortive and gave the company a “buy” rating in a research note on Wednesday, September 18th. Raymond James set a $84.00 target price on Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays cut their target price on Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Bank of America cut their target price on Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $79.55.

NYSE:FTV traded up $2.58 during trading hours on Friday, reaching $68.01. The company had a trading volume of 71,156 shares, compared to its average volume of 2,312,262. The stock has a 50-day moving average of $68.34 and a two-hundred day moving average of $77.33. Fortive Corp has a one year low of $62.89 and a one year high of $89.48. The firm has a market capitalization of $21.55 billion, a PE ratio of 22.24, a PEG ratio of 2.45 and a beta of 1.21. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. As a group, sell-side analysts expect that Fortive Corp will post 3.5 earnings per share for the current year.

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

Fortive 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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