Redmond Asset Management LLC boosted its holdings in Fortive Corporation (NYSE:FTV) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,998 shares of the technology company’s stock after buying an additional 1,000 shares during the period. Redmond Asset Management LLC’s holdings in Fortive Corporation were worth $566,000 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. Los Angeles Capital Management & Equity Research Inc. increased its stake in Fortive Corporation by 289.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 326,079 shares of the technology company’s stock valued at $23,083,000 after purchasing an additional 242,455 shares in the last quarter. Toronto Dominion Bank increased its stake in Fortive Corporation by 13.2% in the third quarter. Toronto Dominion Bank now owns 117,891 shares of the technology company’s stock valued at $8,344,000 after purchasing an additional 13,714 shares in the last quarter. New York State Common Retirement Fund increased its stake in Fortive Corporation by 2.2% in the third quarter. New York State Common Retirement Fund now owns 706,450 shares of the technology company’s stock valued at $50,010,000 after purchasing an additional 15,000 shares in the last quarter. CIBC Asset Management Inc increased its stake in Fortive Corporation by 2.7% in the third quarter. CIBC Asset Management Inc now owns 30,124 shares of the technology company’s stock valued at $2,132,000 after purchasing an additional 781 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Fortive Corporation by 0.7% in the third quarter. Retirement Systems of Alabama now owns 251,043 shares of the technology company’s stock valued at $17,771,000 after purchasing an additional 1,771 shares in the last quarter. Institutional investors and hedge funds own 79.13% of the company’s stock.

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In related news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the completion of the transaction, the insider now owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.

Fortive Corporation (FTV) traded up $0.02 during trading on Monday, reaching $72.65. 1,825,200 shares of the company were exchanged, compared to its average volume of 1,356,311. The company has a market capitalization of $25,250.16, a P/E ratio of 26.32, a P/E/G ratio of 2.51 and a beta of 0.37. Fortive Corporation has a 1-year low of $52.99 and a 1-year high of $74.38. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06.

Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. analysts predict that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio (DPR) is currently 10.57%.

Several brokerages have commented on FTV. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Tuesday, September 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $66.00 target price (up previously from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Stifel Nicolaus increased their price objective on shares of Fortive Corporation from $62.00 to $72.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Morgan Stanley reissued an “equal weight” rating and set a $72.00 price objective (up previously from $71.00) on shares of Fortive Corporation in a research report on Monday, October 2nd. Finally, Citigroup Inc. increased their price objective on shares of Fortive Corporation from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.10.

Fortive Corporation Company Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

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Institutional Ownership by Quarter for Fortive Corporation (NYSE:FTV)

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