Marshall & Sullivan Inc. WA Increases Stake in Fortive Corp (NYSE:FTV)

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Marshall & Sullivan Inc. WA raised its holdings in shares of Fortive Corp (NYSE:FTV) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,696 shares of the technology company’s stock after buying an additional 2,705 shares during the period. Fortive comprises 1.9% of Marshall & Sullivan Inc. WA’s portfolio, making the stock its 25th largest holding. Marshall & Sullivan Inc. WA’s holdings in Fortive were worth $2,584,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LPL Financial LLC increased its stake in shares of Fortive by 2.0% in the second quarter. LPL Financial LLC now owns 7,831 shares of the technology company’s stock worth $638,000 after purchasing an additional 153 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in shares of Fortive by 4.5% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $302,000 after purchasing an additional 160 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of Fortive by 5.4% in the second quarter. Zions Bancorporation N.A. now owns 3,390 shares of the technology company’s stock worth $277,000 after purchasing an additional 173 shares in the last quarter. O Brien Greene & Co. Inc increased its stake in shares of Fortive by 0.5% in the second quarter. O Brien Greene & Co. Inc now owns 36,185 shares of the technology company’s stock worth $2,949,000 after purchasing an additional 175 shares in the last quarter. Finally, Dempze Nancy E increased its stake in shares of Fortive by 1.6% in the second quarter. Dempze Nancy E now owns 12,070 shares of the technology company’s stock worth $985,000 after purchasing an additional 185 shares in the last quarter. 82.60% of the stock is owned by institutional investors and hedge funds.

In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the transaction, the senior vice president now owns 20,015 shares in the company, valued at $1,415,060.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.70% of the stock is owned by company insiders.

FTV opened at $67.95 on Friday. The stock has a market capitalization of $21.77 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.48 and a beta of 1.21. The company has a fifty day moving average of $68.30 and a 200 day moving average of $77.26. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $89.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 1.23.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.07 per share. 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 currently 9.15%.

A number of analysts have recently issued reports on FTV shares. Berenberg Bank set a $86.00 price objective on shares of Fortive and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America cut their target price on shares of Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Morgan Stanley cut their target price on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday. Gordon Haskett cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Raymond James set a $84.00 target price on shares of Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock 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.

See Also: Balanced Fund

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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