King Luther Capital Management Corp Has $42.37 Million Stock Position in Fortive Co. (NYSE:FTV)

King Luther Capital Management Corp lifted its holdings in shares of Fortive Co. (NYSE:FTV) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 566,653 shares of the technology company’s stock after purchasing an additional 10,732 shares during the period. King Luther Capital Management Corp’s holdings in Fortive were worth $42,369,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FTV. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Fortive by 95,666.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 88,663,752 shares of the technology company’s stock worth $6,629,389,000 after buying an additional 88,571,169 shares during the period. Vanguard Group Inc. increased its position in Fortive by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock valued at $2,288,355,000 after purchasing an additional 989,883 shares during the period. BlackRock Inc. raised its holdings in Fortive by 0.9% during the 1st quarter. BlackRock Inc. now owns 30,824,840 shares of the technology company’s stock worth $2,101,329,000 after purchasing an additional 282,248 shares during the last quarter. FMR LLC lifted its position in shares of Fortive by 7.3% in the 1st quarter. FMR LLC now owns 18,321,854 shares of the technology company’s stock worth $1,249,001,000 after purchasing an additional 1,248,629 shares during the period. Finally, Flossbach Von Storch AG boosted its stake in shares of Fortive by 3.8% in the 1st quarter. Flossbach Von Storch AG now owns 10,594,444 shares of the technology company’s stock valued at $722,223,000 after purchasing an additional 389,746 shares during the last quarter. Institutional investors and hedge funds own 95.95% of the company’s stock.

Fortive Trading Down 0.6 %

FTV opened at $67.68 on Tuesday. Fortive Co. has a fifty-two week low of $62.70 and a fifty-two week high of $79.90. The firm has a market capitalization of $23.79 billion, a PE ratio of 29.05 and a beta of 1.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.02 and a quick ratio of 0.79. The company’s 50-day moving average is $71.11 and its 200 day moving average is $72.22.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Fortive had a net margin of 13.77% and a return on equity of 11.96%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.52 billion. As a group, research analysts predict that Fortive Co. will post 3.39 earnings per share for the current fiscal year.

Fortive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be given a dividend of $0.08 per share. This is a positive change from Fortive’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Wednesday, November 22nd. Fortive’s dividend payout ratio (DPR) is presently 13.73%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Fortive from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Thursday, October 26th. Barclays decreased their target price on Fortive from $83.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 26th. TD Cowen lifted their target price on Fortive from $70.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. UBS Group increased their price target on Fortive from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Argus boosted their target price on shares of Fortive from $80.00 to $85.00 in a research report on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.46.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.