Bronfman E.L. Rothschild L.P. grew its stake in Fortive Corp (NYSE:FTV) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,717 shares of the technology company’s stock after buying an additional 1,943 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in Fortive were worth $566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Fortive by 2.9% during the second quarter. Bank of America Corp DE now owns 2,913,140 shares of the technology company’s stock worth $224,633,000 after purchasing an additional 83,258 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Fortive by 14.0% during the third quarter. IFM Investors Pty Ltd now owns 16,187 shares of the technology company’s stock worth $1,363,000 after purchasing an additional 1,987 shares in the last quarter. Zurich Insurance Group Ltd FI grew its position in shares of Fortive by 6.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 83,057 shares of the technology company’s stock worth $6,405,000 after purchasing an additional 4,854 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its position in shares of Fortive by 0.9% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 468,514 shares of the technology company’s stock worth $39,448,000 after purchasing an additional 4,118 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Fortive during the second quarter worth about $275,000.

FTV has been the subject of several research analyst reports. SunTrust Banks cut their target price on Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Monday, October 1st. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, September 4th. Argus increased their target price on Fortive to $94.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Finally, UBS Group increased their target price on Fortive from $86.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 30th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $86.73.

In related news, insider James A. Lico sold 123,298 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $75.41, for a total transaction of $9,297,902.18. Following the completion of the transaction, the insider now directly owns 357,460 shares of the company’s stock, valued at $26,956,058.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Emily A. Weaver sold 9,271 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total value of $699,126.11. Following the transaction, the vice president now directly owns 9,279 shares of the company’s stock, valued at $699,729.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,382 shares of company stock valued at $10,729,598. 12.10% of the stock is owned by corporate insiders.

Shares of Fortive stock opened at $72.14 on Friday. Fortive Corp has a 12 month low of $69.03 and a 12 month high of $88.34. The company has a market cap of $24.33 billion, a P/E ratio of 21.62, a PEG ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.98 and a quick ratio of 0.79.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 25th. The technology company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Fortive had a net margin of 15.72% and a return on equity of 24.91%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. Research analysts predict that Fortive Corp will post 3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, November 29th. Fortive’s payout ratio is presently 9.69%.

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Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

Further Reading: Balance Sheet

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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