Royal London Asset Management Ltd. Purchases New Position in Fortive Corp (FTV)

Royal London Asset Management Ltd. acquired a new stake in Fortive Corp (NYSE:FTV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 256,269 shares of the technology company’s stock, valued at approximately $17,093,000. Royal London Asset Management Ltd. owned about 0.08% of Fortive at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Fortive by 20.0% in the 2nd quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock worth $1,831,768,000 after buying an additional 3,960,523 shares during the last quarter. Capital Investment Services of America Inc. increased its holdings in shares of Fortive by 30.5% in the third quarter. Capital Investment Services of America Inc. now owns 181,912 shares of the technology company’s stock worth $15,317,000 after purchasing an additional 42,520 shares during the period. Franklin Street Advisors Inc. NC increased its holdings in shares of Fortive by 13.0% in the third quarter. Franklin Street Advisors Inc. NC now owns 86,670 shares of the technology company’s stock worth $7,298,000 after purchasing an additional 9,987 shares during the period. Douglas Lane & Associates LLC increased its holdings in shares of Fortive by 3.6% in the third quarter. Douglas Lane & Associates LLC now owns 392,101 shares of the technology company’s stock worth $33,015,000 after purchasing an additional 13,783 shares during the period. Finally, Atria Investments LLC grew its position in Fortive by 88.4% in the third quarter. Atria Investments LLC now owns 10,683 shares of the technology company’s stock worth $899,000 after acquiring an additional 5,012 shares in the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Stacey A. Walker sold 468 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $75.26, for a total value of $35,221.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.20% of the stock is owned by corporate insiders.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Fortive from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Credit Suisse Group reiterated a “neutral” rating and issued a $78.00 target price (down from $86.00) on shares of Fortive in a research report on Thursday, January 3rd. TheStreet upgraded shares of Fortive from a “c” rating to a “b-” rating in a research report on Wednesday, January 30th. Morgan Stanley cut their target price on shares of Fortive from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Finally, SunTrust Banks cut their price target on shares of Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $85.82.

Fortive stock opened at $80.44 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. The stock has a market cap of $25.66 billion, a PE ratio of 26.29, a PEG ratio of 1.95 and a beta of 1.11. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $88.34.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Fortive had a net margin of 40.50% and a return on equity of 22.42%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $0.82 earnings per share. Fortive’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts predict that Fortive Corp will post 3.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 22nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Thursday, February 21st. Fortive’s payout ratio is currently 9.15%.

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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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