Ossiam bought a new position in shares of Fortive Corp (NYSE:FTV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,732 shares of the technology company’s stock, valued at approximately $141,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Fortive by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,033,586 shares of the technology company’s stock worth $69,929,000 after acquiring an additional 158,849 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Fortive by 115.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 18,511 shares of the technology company’s stock worth $1,552,000 after acquiring an additional 9,936 shares in the last quarter. Bbva Compass Bancshares Inc. grew its position in Fortive by 9.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,429 shares of the technology company’s stock worth $456,000 after acquiring an additional 463 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Fortive in the first quarter worth approximately $208,000. Finally, State Treasurer State of Michigan grew its position in Fortive by 0.8% in the first quarter. State Treasurer State of Michigan now owns 84,819 shares of the technology company’s stock worth $7,115,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.
Shares of NYSE FTV traded up $0.14 during trading hours on Friday, hitting $70.12. 63,556 shares of the stock were exchanged, compared to its average volume of 2,120,031. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The company’s 50 day moving average is $71.23 and its 200 day moving average is $79.36. The firm has a market capitalization of $23.51 billion, a P/E ratio of 22.95, a P/E/G ratio of 2.62 and a beta of 1.22. Fortive Corp has a one year low of $62.89 and a one year high of $89.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Thursday, August 29th. Fortive’s dividend payout ratio is 9.15%.
In other news, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the transaction, the senior vice president now owns 20,015 shares in the company, valued at approximately $1,415,060.50. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 12.70% of the company’s stock.
FTV has been the subject of several recent research reports. Barclays decreased their target price on shares of Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Credit Suisse Group reissued a “hold” rating and issued a $76.00 target price on shares of Fortive in a research report on Tuesday. Gordon Haskett downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Raymond James set a $84.00 target price on shares of Fortive and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Bank of America decreased their target price on shares of Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Fortive has an average rating of “Hold” and a consensus price target of $82.87.
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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