Crestwood Advisors Group LLC Has $4.27 Million Position in Fortive Corporation $FTV
by Renee Jackson · The Cerbat GemCrestwood Advisors Group LLC lowered its stake in shares of Fortive Corporation (NYSE:FTV – Free Report) by 29.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 81,675 shares of the technology company’s stock after selling 34,236 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Fortive were worth $4,268,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Dodge & Cox boosted its holdings in shares of Fortive by 181.5% in the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after purchasing an additional 14,120,456 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after purchasing an additional 4,382,242 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Fortive by 96.6% in the 1st quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after purchasing an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. boosted its holdings in shares of Fortive by 4.9% in the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock valued at $330,012,000 after purchasing an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Fortive by 2.8% in the 1st quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock valued at $297,691,000 after purchasing an additional 109,307 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.
Insider Buying and Selling at Fortive
In other news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.92% of the company’s stock.
Fortive Stock Down 0.2%
Shares of NYSE:FTV opened at $50.23 on Thursday. The firm has a market cap of $15.95 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.03 and a beta of 1.16. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The business has a fifty day simple moving average of $48.93 and a 200 day simple moving average of $56.71.
Fortive (NYSE:FTV – Get Free Report) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. Analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.
Fortive Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 13.71%.
Analyst Ratings Changes
A number of brokerages have weighed in on FTV. Cowen downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Morgan Stanley increased their price target on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Barclays increased their price target on Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Finally, Mizuho dropped their price target on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Fortive presently has a consensus rating of “Hold” and an average target price of $59.29.
Get Our Latest Analysis on Fortive
Fortive 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.
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