Fortive Co. (NYSE:FTV) Position Cut by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA trimmed its holdings in Fortive Co. (NYSE:FTVGet Rating) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,430 shares of the technology company’s stock after selling 210 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Fortive were worth $331,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC bought a new position in Fortive during the 4th quarter valued at $31,000. Retirement Planning Co of New England Inc. bought a new position in Fortive during the 4th quarter valued at $32,000. CVA Family Office LLC boosted its stake in Fortive by 295.6% during the 4th quarter. CVA Family Office LLC now owns 542 shares of the technology company’s stock valued at $41,000 after purchasing an additional 405 shares in the last quarter. Covestor Ltd bought a new position in Fortive during the 4th quarter valued at $44,000. Finally, Quent Capital LLC bought a new position in Fortive during the 4th quarter valued at $48,000. 95.21% of the stock is owned by institutional investors and hedge funds.

FTV opened at $54.54 on Thursday. The stock has a fifty day moving average of $58.91 and a 200-day moving average of $64.18. The firm has a market capitalization of $19.55 billion, a P/E ratio of 30.30, a PEG ratio of 1.70 and a beta of 1.10. Fortive Co. has a 12-month low of $53.05 and a 12-month high of $79.87. The company has a quick ratio of 0.74, a current ratio of 0.96 and a debt-to-equity ratio of 0.29.

Fortive (NYSE:FTVGet Rating) last released its earnings results on Thursday, April 28th. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. Fortive had a return on equity of 10.87% and a net margin of 12.32%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, analysts expect that Fortive Co. will post 3.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 27th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 26th. This represents a $0.28 annualized dividend and a dividend yield of 0.51%. Fortive’s dividend payout ratio is 15.56%.

In other news, Director Alan G. Spoon acquired 17,400 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was acquired at an average cost of $58.25 per share, for a total transaction of $1,013,550.00. Following the completion of the acquisition, the director now owns 98,861 shares in the company, valued at $5,758,653.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on FTV. Argus raised Fortive from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Thursday, March 17th. Morgan Stanley cut their price objective on Fortive from $67.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 31st. Barclays upgraded Fortive from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective for the company in a research report on Monday, March 14th. StockNews.com initiated coverage on Fortive in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Cowen cut their price objective on Fortive from $80.00 to $70.00 and set a “market perform” rating for the company in a research report on Thursday, June 2nd. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fortive presently has an average rating of “Hold” and an average price target of $79.27.

Fortive Company Profile (Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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