Fortive Co. (NYSE:FTV) Shares Bought by Meyer Handelman Co.

Meyer Handelman Co. increased its holdings in Fortive Co. (NYSE:FTV) by 73.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,500 shares of the technology company’s stock after purchasing an additional 11,250 shares during the quarter. Meyer Handelman Co.’s holdings in Fortive were worth $2,280,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Fortive by 34.2% in the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after purchasing an additional 134,259 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in shares of Fortive by 4.5% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after acquiring an additional 35,688 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Fortive by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock valued at $42,496,000 after acquiring an additional 13,251 shares during the last quarter. Capital World Investors raised its holdings in shares of Fortive by 0.6% during the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after acquiring an additional 33,990 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Fortive during the fourth quarter valued at approximately $885,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Up 0.9 %

FTV opened at $73.60 on Friday. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The business has a fifty day simple moving average of $75.89 and a 200-day simple moving average of $78.03. The firm has a market cap of $25.91 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.14 and a beta of 1.13. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. On average, equities analysts expect that Fortive Co. will post 3.8 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is currently 12.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FTV shares. Citigroup reduced their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wells Fargo & Company dropped their price target on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada dropped their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.