Russell Investments Group Ltd. Boosts Stock Holdings in Fortive Co. (NYSE:FTV)

Russell Investments Group Ltd. raised its holdings in Fortive Co. (NYSE:FTVGet Rating) by 22.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 718,195 shares of the technology company’s stock after acquiring an additional 132,306 shares during the period. Russell Investments Group Ltd.’s holdings in Fortive were worth $41,897,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Prudential PLC grew its stake in Fortive by 2.8% during the second quarter. Prudential PLC now owns 6,371 shares of the technology company’s stock valued at $346,000 after acquiring an additional 174 shares in the last quarter. Zions Bancorporation N.A. lifted its position in Fortive by 21.8% during the first quarter. Zions Bancorporation N.A. now owns 977 shares of the technology company’s stock valued at $59,000 after purchasing an additional 175 shares during the last quarter. Kinneret Advisory LLC lifted its position in Fortive by 2.2% during the second quarter. Kinneret Advisory LLC now owns 8,503 shares of the technology company’s stock valued at $462,000 after purchasing an additional 180 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Fortive by 5.1% during the second quarter. Verdence Capital Advisors LLC now owns 3,742 shares of the technology company’s stock valued at $203,000 after purchasing an additional 180 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in Fortive by 1.4% during the second quarter. Sumitomo Life Insurance Co. now owns 13,056 shares of the technology company’s stock valued at $710,000 after purchasing an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

FTV has been the subject of a number of recent research reports. Mizuho boosted their price objective on shares of Fortive from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, January 13th. Morgan Stanley boosted their price objective on shares of Fortive from $73.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. Credit Suisse Group lowered their price target on shares of Fortive from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, October 27th. Citigroup upped their price target on shares of Fortive from $73.00 to $77.00 and gave the company a “buy” rating in a report on Friday, December 9th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.85.

Insider Transactions at Fortive

In related news, CEO Patrick K. Murphy sold 32,788 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $68.56, for a total value of $2,247,945.28. Following the transaction, the chief executive officer now owns 62,929 shares in the company, valued at approximately $4,314,412.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Charles E. Mclaughlin sold 13,156 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $68.44, for a total value of $900,396.64. Following the transaction, the chief financial officer now owns 88,818 shares in the company, valued at approximately $6,078,703.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Patrick K. Murphy sold 32,788 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the transaction, the chief executive officer now owns 62,929 shares in the company, valued at approximately $4,314,412.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Fortive Stock Up 0.6 %

Shares of Fortive stock opened at $67.24 on Wednesday. The company’s fifty day simple moving average is $66.00 and its two-hundred day simple moving average is $63.80. The company has a market cap of $23.79 billion, a P/E ratio of 35.20, a PEG ratio of 2.29 and a beta of 1.12. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.27. Fortive Co. has a 12-month low of $52.47 and a 12-month high of $71.78.

Fortive (NYSE:FTVGet Rating) last released its earnings results on Wednesday, October 26th. The technology company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.44 billion. Fortive had a net margin of 12.22% and a return on equity of 11.69%. Research analysts anticipate that Fortive Co. will post 3.12 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, February 24th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 14.66%.

Fortive Profile

(Get Rating)

Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

Further Reading

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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