Fortive Corp (NYSE:FTV) Shares Sold by World Asset Management Inc

World Asset Management Inc reduced its stake in shares of Fortive Corp (NYSE:FTV) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,562 shares of the technology company’s stock after selling 1,730 shares during the quarter. World Asset Management Inc’s holdings in Fortive were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Mountain Pacific Investment Advisers Inc. ID grew its position in Fortive by 2.2% during the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 245,701 shares of the technology company’s stock worth $20,030,000 after buying an additional 5,184 shares during the period. Granite Investment Advisors LLC grew its position in Fortive by 1.9% during the second quarter. Granite Investment Advisors LLC now owns 17,827 shares of the technology company’s stock worth $1,453,000 after buying an additional 335 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Fortive by 1.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 63,100 shares of the technology company’s stock worth $5,143,000 after buying an additional 993 shares during the period. Whittier Trust Co. grew its position in shares of Fortive by 2.1% in the second quarter. Whittier Trust Co. now owns 198,987 shares of the technology company’s stock valued at $16,221,000 after purchasing an additional 4,139 shares during the last quarter. Finally, Clean Yield Group acquired a new stake in shares of Fortive in the second quarter valued at approximately $79,000. Institutional investors own 83.58% of the company’s stock.

In related news, VP Emily A. Weaver sold 519 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $80.98, for a total transaction of $42,028.62. Following the sale, the vice president now owns 8,627 shares in the company, valued at $698,614.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Barbara B. Hulit sold 11,386 shares of the firm’s stock in a transaction that occurred 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 owns 48,891 shares in the company, valued at approximately $4,212,448.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,555 shares of company stock worth $2,710,444. 12.70% of the stock is owned by company insiders.

Several analysts have recently commented on the stock. ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Zacks Investment Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Raymond James set a $84.00 price target on shares of Fortive and gave the company an “outperform” rating in a research report on Friday, July 26th. Morgan Stanley lowered shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price target on the stock. in a research report on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Argus reiterated a “buy” rating on shares of Fortive in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $85.87.

NYSE FTV traded down $2.31 during mid-day trading on Thursday, reaching $73.74. 84,170 shares of the stock were exchanged, compared to its average volume of 1,553,668. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48. The firm’s fifty day simple moving average is $79.82. The firm has a market capitalization of $25.78 billion, a PE ratio of 24.02, a PEG ratio of 1.67 and a beta of 1.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter last year, the business earned $0.91 earnings per share. Fortive’s revenue was up 16.4% compared to the same quarter last year. On average, analysts forecast that Fortive Corp will post 3.54 EPS for the current fiscal year.

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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