Mill Creek Capital Advisors LLC Grows Stake in Fortive Co. (NYSE:FTV)

Mill Creek Capital Advisors LLC boosted its holdings in shares of Fortive Co. (NYSE:FTV) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,641 shares of the technology company’s stock after purchasing an additional 162 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Fortive were worth $270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its position in shares of Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after buying an additional 1,999,792 shares during the last quarter. Capital World Investors boosted its stake in 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 buying an additional 33,990 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Fortive by 3.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after acquiring an additional 94,170 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of recent research reports. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Thursday, September 5th. Finally, Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus price target of $86.23.

Insider Activity at Fortive

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

Fortive Stock Performance

Shares of Fortive stock opened at $77.27 on Wednesday. The firm has a market capitalization of $27.20 billion, a P/E ratio of 30.54, a PEG ratio of 2.11 and a beta of 1.11. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $72.39 and a 200 day moving average price of $76.00.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. Sell-side analysts expect that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio is currently 12.65%.

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.