Fortive Co. (NYSE:FTV) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS grew its stake in Fortive Co. (NYSE:FTVGet Rating) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,285 shares of the technology company’s stock after buying an additional 9,382 shares during the quarter. DNB Asset Management AS’s holdings in Fortive were worth $5,318,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. BerganKDV Wealth Management LLC lifted its holdings in shares of Fortive by 11.3% in the 4th quarter. BerganKDV Wealth Management LLC now owns 1,481 shares of the technology company’s stock valued at $113,000 after buying an additional 150 shares during the period. Regentatlantic Capital LLC lifted its holdings in shares of Fortive by 6.1% in the 4th quarter. Regentatlantic Capital LLC now owns 3,264 shares of the technology company’s stock valued at $249,000 after buying an additional 187 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Fortive by 0.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the technology company’s stock valued at $1,717,000 after purchasing an additional 200 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Fortive by 0.8% in the 4th quarter. Bessemer Group Inc. now owns 28,550 shares of the technology company’s stock valued at $2,178,000 after purchasing an additional 231 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Fortive by 2.0% in the 3rd quarter. Captrust Financial Advisors now owns 12,456 shares of the technology company’s stock valued at $879,000 after purchasing an additional 240 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Shares of Fortive stock opened at $54.54 on Thursday. The stock has a market cap of $19.55 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.68 and a beta of 1.10. The stock’s 50 day simple moving average is $58.91 and its 200-day simple moving average is $64.18. Fortive Co. has a 1-year low of $53.05 and a 1-year high of $79.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.96 and a quick ratio of 0.74.

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

The firm 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, May 26th. Fortive’s dividend payout ratio is presently 15.56%.

In other Fortive news, Director Alan G. Spoon acquired 17,400 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were purchased 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 of the company’s stock, valued at approximately $5,758,653.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Several brokerages recently weighed in on FTV. Argus upgraded 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. Barclays upgraded Fortive from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research note on Monday, March 14th. Morgan Stanley cut their price target on Fortive from $67.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 31st. Cowen cut their price objective on Fortive from $80.00 to $70.00 in a research note on Thursday, June 2nd. 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 note on Thursday, June 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $79.27.

Fortive 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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