Janney Montgomery Scott LLC Reduces Holdings in Fortive Corp (FTV)
Janney Montgomery Scott LLC lessened its stake in Fortive Corp (NYSE:FTV) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,361 shares of the technology company’s stock after selling 7,606 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fortive were worth $4,422,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in FTV. Baystate Wealth Management LLC increased its stake 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. grew its position in Fortive by 104.6% in the third quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock worth $26,000 after acquiring an additional 158 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in Fortive in the fourth quarter worth approximately $50,000. Private Capital Group LLC grew its position in Fortive by 22.1% in the fourth quarter. Private Capital Group LLC now owns 1,303 shares of the technology company’s stock worth $88,000 after acquiring an additional 236 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in Fortive in the third quarter worth approximately $108,000. Hedge funds and other institutional investors own 81.42% of the company’s stock.
Shares of Fortive stock opened at $76.82 on Monday. The stock has a market cap of $25.66 billion, a P/E ratio of 25.10, a PEG ratio of 1.95 and a beta of 1.11. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $88.34.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 22nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, February 21st. Fortive’s dividend payout ratio (DPR) is currently 9.15%.
In other news, insider William W. Pringle sold 476 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $73.18, for a total value of $34,833.68. Following the transaction, the insider now owns 28,639 shares of the company’s stock, valued at approximately $2,095,802.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jonathan L. Schwarz sold 8,869 shares of Fortive stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $74.70, for a total transaction of $662,514.30. Following the transaction, the vice president now directly owns 7,270 shares in the company, valued at approximately $543,069. The disclosure for this sale can be found here. Insiders have sold a total of 9,813 shares of company stock valued at $732,570 in the last quarter. 12.20% of the stock is currently owned by corporate insiders.
FTV has been the subject of several recent research reports. SunTrust Banks decreased their target price on shares of Fortive from $92.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Morgan Stanley raised shares of Fortive from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $84.00 to $82.00 in a report on Tuesday, December 18th. TheStreet downgraded shares of Fortive from a “b-” rating to a “c” rating in a report on Wednesday, December 19th. Zacks Investment Research downgraded shares of Fortive from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $78.00 price objective (down from $86.00) on shares of Fortive in a report on Thursday, January 3rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $85.82.
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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.
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