Meag Munich Ergo Kapitalanlagegesellschaft MBH Invests $12.94 Million in Fortive Corporation (FTV) Stock

Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Fortive Corporation (NYSE:FTV) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 184,553 shares of the technology company’s stock, valued at approximately $12,944,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned approximately 0.05% of Fortive Corporation as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Fortive Corporation by 3.1% during the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after buying an additional 620,784 shares in the last quarter. BlackRock Inc. grew its stake in Fortive Corporation by 11.7% during the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock worth $1,171,255,000 after buying an additional 1,934,309 shares in the last quarter. Capital World Investors grew its stake in Fortive Corporation by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after buying an additional 2,701,496 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Fortive Corporation by 41.2% during the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock worth $210,997,000 after buying an additional 971,997 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Fortive Corporation by 64,460.2% during the second quarter. Bessemer Group Inc. now owns 2,640,512 shares of the technology company’s stock worth $167,275,000 after buying an additional 2,636,422 shares in the last quarter. Hedge funds and other institutional investors own 79.02% of the company’s stock.

Fortive Corporation (NYSE:FTV) traded up $0.02 during trading on Friday, reaching $72.65. 1,825,200 shares of the company’s stock traded hands, compared to its average volume of 1,229,408. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. Fortive Corporation has a 52-week low of $52.99 and a 52-week high of $74.38. The company has a market cap of $25,250.16, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.

Fortive Corporation (NYSE:FTV) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business earned $0.65 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. equities research analysts expect that Fortive Corporation will post 2.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive Corporation’s payout ratio is 10.57%.

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In other news, CFO Charles E. Mclaughlin sold 6,565 shares of Fortive Corporation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $66.09, for a total value of $433,880.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James A. Lico sold 50,000 shares of Fortive Corporation stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,340 shares of company stock valued at $4,437,021. Company insiders own 12.10% of the company’s stock.

A number of research firms have recently weighed in on FTV. Royal Bank Of Canada restated a “hold” rating and issued a $70.00 price target on shares of Fortive Corporation in a research note on Wednesday, October 11th. Citigroup Inc. restated a “neutral” rating and issued a $72.00 price target (up from $65.00) on shares of Fortive Corporation in a research note on Monday, October 9th. Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Stifel Nicolaus restated a “hold” rating and issued a $62.00 price target on shares of Fortive Corporation in a research note on Sunday, July 30th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $81.00 price objective on shares of Fortive Corporation in a report on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $69.10.

Fortive Corporation Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

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Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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