Flossbach Von Storch AG Buys 151,496 Shares of Fortive Corp (FTV)
Flossbach Von Storch AG increased its stake in shares of Fortive Corp (NYSE:FTV) by 188.2% in the fourth quarter, HoldingsChannel reports. The firm owned 232,000 shares of the technology company’s stock after buying an additional 151,496 shares during the quarter. Flossbach Von Storch AG’s holdings in Fortive were worth $15,697,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Baystate Wealth Management LLC grew its holdings in Fortive by 837.8% in the 4th quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock valued at $25,000 after buying an additional 310 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Fortive by 104.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock valued at $26,000 after purchasing an additional 158 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of Fortive in the 4th quarter valued at approximately $50,000. Financial Gravity Companies Inc. acquired a new position in shares of Fortive in the 4th quarter valued at approximately $62,000. Finally, Private Capital Group LLC raised its position in shares of Fortive by 22.1% in the 4th quarter. Private Capital Group LLC now owns 1,303 shares of the technology company’s stock valued at $88,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 81.42% of the company’s stock.
Shares of Fortive stock opened at $76.82 on Monday. Fortive Corp has a one year low of $62.89 and a one year high of $88.34. The stock has a market capitalization of $25.66 billion, a PE ratio of 25.10, a PEG ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.45.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 22nd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Thursday, February 21st. Fortive’s dividend payout ratio (DPR) is currently 9.15%.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a report on Wednesday, January 30th. Credit Suisse Group reaffirmed a “neutral” rating and set a $78.00 target price (down from $86.00) on shares of Fortive in a report on Thursday, January 3rd. Morgan Stanley raised Fortive from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $84.00 to $82.00 in a report on Tuesday, December 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $74.00 target price on shares of Fortive in a research report on Wednesday, November 21st. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $85.82.
In related news, SVP Stacey A. Walker sold 468 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $75.26, for a total value of $35,221.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jonathan L. Schwarz sold 8,869 shares of the stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $74.70, for a total value of $662,514.30. Following the completion of the sale, the vice president now owns 7,270 shares of the company’s stock, valued at $543,069. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,813 shares of company stock valued at $732,570. 12.20% of the stock is currently owned by corporate insiders.
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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.
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