Lansdowne Partners UK LLP Grows Stock Position in Fortive Co. (NYSE:FTV)

Lansdowne Partners UK LLP raised its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 58.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,610 shares of the technology company's stock after buying an additional 4,657 shares during the period. Fortive comprises approximately 0.1% of Lansdowne Partners UK LLP's investment portfolio, making the stock its 18th biggest position. Lansdowne Partners UK LLP's holdings in Fortive were worth $946,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its stake in Fortive by 5.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock worth $192,000 after acquiring an additional 127 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Fortive by 4.3% in the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock valued at $252,000 after purchasing an additional 137 shares during the period. Dynasty Wealth Management LLC grew its stake in Fortive by 1.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after purchasing an additional 142 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Fortive by 13.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock worth $105,000 after purchasing an additional 165 shares during the period. Finally, Webster Bank N. A. increased its holdings in Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock worth $202,000 after purchasing an additional 168 shares during the period. Institutional investors own 94.94% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. BNP Paribas downgraded shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price target on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Finally, Citigroup reduced their price objective on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $81.92.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now directly owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock valued at $19,508,529 in the last ninety days. Company insiders own 1.01% of the company's stock.

Fortive Stock Down 0.4 %

Shares of Fortive stock traded down $0.26 during trading on Tuesday, reaching $65.75. The company's stock had a trading volume of 2,223,514 shares, compared to its average volume of 2,364,617. Fortive Co. has a 1-year low of $60.39 and a 1-year high of $83.32. The company has a 50-day simple moving average of $74.64 and a two-hundred day simple moving average of $76.11. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company has a market cap of $22.37 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.68 and a beta of 1.12.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the business earned $0.98 EPS. As a group, equities analysts forecast that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's dividend payout ratio (DPR) is presently 13.56%.

Fortive Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.