Nuveen Asset Management LLC Takes $1.13 Million Position in Fortive Corp (FTV)

Nuveen Asset Management LLC purchased a new position in shares of Fortive Corp (NYSE:FTV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,737 shares of the technology company’s stock, valued at approximately $1,132,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FTV. Great Lakes Advisors LLC lifted its holdings in Fortive by 20.0% during the 3rd 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. Vanguard Group Inc raised its holdings in Fortive by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after acquiring an additional 203,786 shares in the last quarter. Brown Advisory Inc. raised its holdings in Fortive by 2.4% in the 4th quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock valued at $427,722,000 after acquiring an additional 146,763 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Fortive by 5.3% in the 3rd quarter. Baillie Gifford & Co. now owns 1,306,030 shares of the technology company’s stock valued at $109,968,000 after acquiring an additional 66,103 shares in the last quarter. Finally, Canton Hathaway LLC acquired a new position in Fortive in the 4th quarter valued at $203,000. 85.06% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on FTV shares. Zacks Investment Research cut Fortive from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Credit Suisse Group reissued a “neutral” rating and set a $78.00 price target (down previously from $86.00) on shares of Fortive in a report on Thursday, January 3rd. William Blair reissued a “market perform” rating on shares of Fortive in a report on Tuesday, February 12th. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a research report on Wednesday, January 30th. Finally, Barclays boosted their price objective on Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Fortive has a consensus rating of “Buy” and a consensus price target of $85.90.

Shares of NYSE:FTV traded up $0.89 during midday trading on Friday, reaching $88.50. The company’s stock had a trading volume of 1,468,056 shares, compared to its average volume of 1,144,154. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 2.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.45 and a quick ratio of 1.18. Fortive Corp has a fifty-two week low of $62.89 and a fifty-two week high of $88.70.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Fortive had a return on equity of 22.42% and a net margin of 40.50%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $0.82 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. Analysts anticipate that Fortive Corp will post 3.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Thursday, May 30th. Fortive’s dividend payout ratio (DPR) is currently 9.15%.

In other news, SVP Stacey A. Walker sold 1,783 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $81.87, for a total value of $145,974.21. Following the completion of the sale, the senior vice president now directly owns 16,036 shares of the company’s stock, valued at $1,312,867.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jonathan L. Schwarz sold 3,746 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $81.63, for a total value of $305,785.98. Following the completion of the sale, the vice president now directly owns 17,740 shares of the company’s stock, valued at $1,448,116.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,964 shares of company stock worth $486,847. 12.20% of the stock is owned by company insiders.

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Fortive Company 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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

Further Reading: The Role of a Fiduciary and Individual Investors

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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