Steinberg Global Asset Management reduced its position in Fortive Corp (NYSE:FTV) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,512 shares of the technology company’s stock after selling 3,086 shares during the period. Steinberg Global Asset Management’s holdings in Fortive were worth $1,900,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new position in Fortive in the 4th quarter valued at about $865,000. Great Lakes Advisors LLC lifted its position in shares of Fortive by 20.0% during the third quarter. Great Lakes Advisors LLC now owns 4,516 shares of the technology company’s stock worth $380,000 after purchasing an additional 754 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Fortive by 79.0% during the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock worth $55,963,000 after purchasing an additional 365,059 shares during the last quarter. Vanguard Group Inc lifted its position in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock worth $1,890,330,000 after purchasing an additional 203,786 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Fortive by 2.4% during the fourth quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock worth $427,722,000 after purchasing an additional 146,763 shares during the last quarter. 85.08% of the stock is owned by institutional investors.
NYSE FTV traded up $0.16 during trading hours on Monday, reaching $87.82. The company’s stock had a trading volume of 658,109 shares, compared to its average volume of 1,461,943. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. Fortive Corp has a 52 week low of $62.89 and a 52 week high of $88.36. The stock has a market capitalization of $29.33 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.05 and a beta of 1.14.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. Fortive’s dividend payout ratio is currently 9.15%.
In other Fortive news, VP Jonathan L. Schwarz sold 3,746 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $81.63, for a total value of $305,785.98. Following the transaction, the vice president now owns 17,740 shares of the company’s stock, valued at $1,448,116.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William W. Pringle sold 435 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $80.66, for a total transaction of $35,087.10. The disclosure for this sale can be found here. Insiders sold 5,964 shares of company stock worth $486,847 in the last three months. 12.20% of the stock is currently owned by corporate insiders.
Several brokerages have recently commented on FTV. ValuEngine raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays increased their price target on shares of Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, February 26th. William Blair reaffirmed a “market perform” rating on shares of Fortive in a research report on Tuesday, February 12th. Finally, TheStreet raised shares of Fortive from a “c” rating to a “b-” rating in a research report on Wednesday, January 30th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $85.90.
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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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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