Flagship Harbor Advisors LLC Takes Position in Fortive Corp (FTV)

Flagship Harbor Advisors LLC acquired a new position in shares of Fortive Corp (NYSE:FTV) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,717 shares of the technology company’s stock, valued at approximately $132,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Parsons Capital Management Inc. RI lifted its position in Fortive by 1.6% in the second quarter. Parsons Capital Management Inc. RI now owns 42,383 shares of the technology company’s stock valued at $3,268,000 after acquiring an additional 650 shares during the last quarter. State Treasurer State of Michigan lifted its position in Fortive by 0.8% in the second quarter. State Treasurer State of Michigan now owns 90,819 shares of the technology company’s stock valued at $7,003,000 after acquiring an additional 700 shares during the last quarter. Toth Financial Advisory Corp lifted its position in Fortive by 105.2% in the second quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock valued at $106,000 after acquiring an additional 705 shares during the last quarter. Zions Bancorporation lifted its position in Fortive by 17.5% in the second quarter. Zions Bancorporation now owns 4,787 shares of the technology company’s stock valued at $369,000 after acquiring an additional 713 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Fortive by 0.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 94,911 shares of the technology company’s stock valued at $7,319,000 after acquiring an additional 728 shares during the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

In other Fortive news, Director Alan G. Spoon bought 18,000 shares of Fortive stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average cost of $80.80 per share, with a total value of $1,454,400.00. Following the completion of the acquisition, the director now owns 48,268 shares of the company’s stock, valued at $3,900,054.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William W. Pringle sold 440 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $79.38, for a total transaction of $34,927.20. Following the completion of the sale, the insider now directly owns 20,626 shares of the company’s stock, valued at $1,637,291.88. The disclosure for this sale can be found here. Insiders sold 74,602 shares of company stock valued at $6,047,572 over the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Shares of NYSE:FTV opened at $86.98 on Monday. Fortive Corp has a one year low of $69.03 and a one year high of $87.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.96 and a quick ratio of 1.68. The stock has a market capitalization of $29.79 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.55.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, July 26th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Fortive had a net margin of 16.38% and a return on equity of 27.22%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that Fortive Corp will post 3.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a $0.07 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.32%. Fortive’s payout ratio is 9.69%.

A number of brokerages recently weighed in on FTV. Argus boosted their price target on shares of Fortive to $94.00 and gave the company a “buy” rating in a research report on Thursday. They noted that the move was a valuation call. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. UBS Group boosted their price target on shares of Fortive from $86.00 to $93.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Morgan Stanley boosted their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 31st. Finally, Citigroup boosted their price target on shares of Fortive from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Fortive currently has an average rating of “Hold” and an average price target of $85.00.

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 maintenance management software 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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