Intech Investment Management LLC Has $2.72 Million Stake in Fortive Co. (NYSE:FTV)

Intech Investment Management LLC grew its holdings in Fortive Co. (NYSE:FTV) by 59.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,706 shares of the technology company’s stock after purchasing an additional 13,699 shares during the quarter. Intech Investment Management LLC’s holdings in Fortive were worth $2,720,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FTV. Seven Eight Capital LP acquired a new position in shares of Fortive during the second quarter worth approximately $1,830,000. Hsbc Holdings PLC raised its stake in Fortive by 3.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,044,293 shares of the technology company’s stock valued at $77,379,000 after purchasing an additional 33,904 shares during the last quarter. Beck Bode LLC bought a new stake in Fortive in the 2nd quarter valued at $587,000. O Brien Greene & Co. Inc grew its position in Fortive by 5.6% in the 2nd quarter. O Brien Greene & Co. Inc now owns 80,430 shares of the technology company’s stock worth $5,960,000 after purchasing an additional 4,236 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Fortive by 5.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,400 shares of the technology company’s stock worth $2,062,000 after purchasing an additional 1,349 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

NYSE:FTV opened at $76.34 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $26.87 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The firm has a 50 day moving average of $72.43 and a 200-day moving average of $76.12. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS. As a group, sell-side analysts anticipate that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is 12.65%.

Insider Activity at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FTV. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Wells Fargo & Company decreased their price target on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.23.

Fortive Company Profile

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.