Fortive Corp (NYSE:FTV) Stake Lifted by Chesapeake Wealth Management

Chesapeake Wealth Management lifted its stake in Fortive Corp (NYSE:FTV) by 100.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,860 shares of the technology company’s stock after acquiring an additional 3,947 shares during the quarter. Chesapeake Wealth Management’s holdings in Fortive were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems acquired a new stake in shares of Fortive in the fourth quarter valued at about $865,000. Great Lakes Advisors LLC lifted its stake in shares of Fortive by 20.0% in the third quarter. Great Lakes Advisors LLC now owns 4,516 shares of the technology company’s stock valued at $380,000 after buying an additional 754 shares during the period. Deutsche Bank AG lifted its stake in shares of Fortive by 79.0% in the fourth quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock valued at $55,963,000 after buying an additional 365,059 shares during the period. Vanguard Group Inc lifted its stake in shares of Fortive by 0.9% in the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after buying an additional 203,786 shares during the period. Finally, Brown Advisory Inc. lifted its stake in shares of Fortive by 2.4% in the fourth quarter. Brown Advisory Inc. now owns 6,321,632 shares of the technology company’s stock valued at $427,722,000 after buying an additional 146,763 shares during the period. 85.08% of the stock is currently owned by institutional investors and hedge funds.

NYSE FTV opened at $82.26 on Friday. The company has a market cap of $28.08 billion, a PE ratio of 26.88, a PEG ratio of 1.73 and a beta of 1.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.20 and a quick ratio of 1.97. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.63 billion. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. Equities analysts predict that Fortive Corp will post 3.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, May 30th. Fortive’s dividend payout ratio is currently 9.15%.

In other Fortive news, VP Jonathan L. Schwarz sold 3,746 shares of Fortive stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $81.63, for a total transaction of $305,785.98. Following the completion of the sale, the vice president now owns 17,740 shares of the company’s stock, valued at approximately $1,448,116.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Barbara B. Hulit sold 11,386 shares of Fortive stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $86.16, for a total transaction of $981,017.76. Following the sale, the senior vice president now directly owns 48,891 shares of the company’s stock, valued at approximately $4,212,448.56. The disclosure for this sale can be found here. In the last three months, insiders sold 17,950 shares of company stock valued at $1,519,183. 12.20% of the stock is currently owned by company insiders.

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 target price for the company. in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Tuesday. Argus restated a “buy” rating on shares of Fortive in a research note on Tuesday, April 30th. BMO Capital Markets raised their price target on shares of Fortive from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, ValuEngine upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $87.35.

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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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