FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Holdings in Fortive Corp (NYSE:FTV)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Fortive Corp (NYSE:FTV) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,496 shares of the technology company’s stock after purchasing an additional 213 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Fortive were worth $692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Zeke Capital Advisors LLC grew its position in shares of Fortive by 2.9% in the first quarter. Zeke Capital Advisors LLC now owns 4,378 shares of the technology company’s stock valued at $367,000 after purchasing an additional 125 shares in the last quarter. Emerald Advisers LLC grew its position in shares of Fortive by 0.7% in the first quarter. Emerald Advisers LLC now owns 21,120 shares of the technology company’s stock valued at $1,772,000 after purchasing an additional 144 shares in the last quarter. Mcmillion Capital Management Inc. grew its position in shares of Fortive by 3.1% in the first quarter. Mcmillion Capital Management Inc. now owns 4,865 shares of the technology company’s stock valued at $408,000 after purchasing an additional 148 shares in the last quarter. Norway Savings Bank grew its position in shares of Fortive by 2.3% in the first quarter. Norway Savings Bank now owns 7,187 shares of the technology company’s stock valued at $603,000 after purchasing an additional 165 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of Fortive by 3.2% in the first quarter. Trust Co. of Vermont now owns 5,275 shares of the technology company’s stock valued at $443,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 83.58% of the company’s stock.

NYSE:FTV opened at $73.75 on Friday. The company has a market capitalization of $25.77 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.26 and a beta of 1.20. Fortive Corp has a 52-week low of $62.89 and a 52-week high of $89.48. The company’s fifty day simple moving average is $79.74. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. On average, equities analysts predict that Fortive Corp will post 3.53 earnings per share for the current year.

In other Fortive news, insider Martin Gafinowitz sold 20,000 shares of Fortive stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $81.74, for a total transaction of $1,634,800.00. Following the completion of the sale, the insider now owns 91,688 shares of the company’s stock, valued at $7,494,577.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Emily A. Weaver sold 650 shares of Fortive stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $80.92, for a total value of $52,598.00. Following the sale, the vice president now directly owns 9,146 shares of the company’s stock, valued at approximately $740,094.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,169 shares of company stock valued at $1,729,427. Corporate insiders own 12.70% of the company’s stock.

Several equities research analysts recently issued reports on FTV shares. BMO Capital Markets lifted their price objective on Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Raymond James set a $84.00 price objective on Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. Zacks Investment Research lowered Fortive from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Morgan Stanley lowered Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price objective for the company. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Berenberg Bank started coverage on Fortive in a research note on Wednesday, May 15th. They set a “buy” rating and a $96.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.87.

Fortive 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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