Squarepoint Ops LLC Raises Holdings in Fortive Corp (FTV)

Squarepoint Ops LLC lifted its position in Fortive Corp (NYSE:FTV) by 34.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,841 shares of the technology company’s stock after acquiring an additional 8,614 shares during the quarter. Squarepoint Ops LLC’s holdings in Fortive were worth $2,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Baystate Wealth Management LLC raised its stake in Fortive by 837.8% during the 4th quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock valued at $25,000 after acquiring an additional 310 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Fortive by 104.6% during the third quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock valued at $26,000 after buying an additional 158 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Fortive by 3,401.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock valued at $37,000 after buying an additional 2,461,167 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new position in shares of Fortive during the fourth quarter valued at $50,000. Finally, Bremer Trust National Association acquired a new stake in Fortive during the fourth quarter valued at $51,000. Institutional investors own 85.06% of the company’s stock.

In other Fortive news, SVP Stacey A. Walker sold 1,783 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $81.87, for a total transaction of $145,974.21. Following the transaction, the senior vice president now owns 16,036 shares of the company’s stock, valued at approximately $1,312,867.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William W. Pringle sold 435 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $80.66, for a total value of $35,087.10. The disclosure for this sale can be found here. Insiders sold a total of 5,964 shares of company stock worth $486,847 over the last three months. 12.20% of the stock is owned by company insiders.

Shares of FTV stock traded up $0.89 during trading hours on Friday, hitting $88.50. The company had a trading volume of 1,468,056 shares, compared to its average volume of 1,144,154. Fortive Corp has a 12 month low of $62.89 and a 12 month high of $88.70. The firm has a market cap of $29.65 billion, a P/E ratio of 28.92, a P/E/G ratio of 2.07 and a beta of 1.14. The company has a current ratio of 1.45, a quick ratio of 1.18 and a debt-to-equity ratio of 0.45.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Thursday, May 30th. Fortive’s payout ratio is currently 9.15%.

FTV has been the subject of a number of research reports. Zacks Investment Research cut Fortive from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $78.00 price target (down previously from $86.00) on shares of Fortive in a research report on Thursday, January 3rd. TheStreet raised Fortive from a “c” rating to a “b-” rating in a research report on Wednesday, January 30th. William Blair reaffirmed a “market perform” rating on shares of Fortive in a research report on Tuesday, February 12th. 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $85.90.

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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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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