NBW Capital LLC Has $2.94 Million Stake in Fortive Co. (NYSE:FTV)

NBW Capital LLC trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 0.9% during the second quarter, HoldingsChannel reports. The fund owned 39,687 shares of the technology company’s stock after selling 350 shares during the period. NBW Capital LLC’s holdings in Fortive were worth $2,941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTV. Janney Montgomery Scott LLC raised its holdings in shares of Fortive by 9.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,060 shares of the technology company’s stock worth $1,109,000 after acquiring an additional 1,357 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Fortive by 2.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 130,487 shares of the technology company’s stock worth $9,608,000 after acquiring an additional 2,840 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Fortive by 18.6% during the fourth quarter. Hsbc Holdings PLC now owns 1,127,164 shares of the technology company’s stock worth $82,982,000 after acquiring an additional 176,433 shares during the period. United Services Automobile Association acquired a new stake in shares of Fortive during the fourth quarter worth $885,000. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Fortive by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 161,905 shares of the technology company’s stock worth $11,921,000 after acquiring an additional 1,548 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated 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 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 accessible through this link. In other Fortive news, 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 completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Fortive Stock Performance

Shares of FTV opened at $77.27 on Wednesday. The firm has a 50-day moving average of $72.39 and a 200-day moving average of $76.00. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The company has a market cap of $27.07 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last announced its earnings results 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%. Fortive’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, equities analysts forecast that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

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

Analysts Set New Price Targets

FTV has been the topic of a number of research analyst reports. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Morgan Stanley initiated coverage on shares of Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. Wells Fargo & Company decreased their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.