Kelly Lawrence W & Associates Inc. CA Has $15.66 Million Holdings in Fortive Corp (NYSE:FTV)
Kelly Lawrence W & Associates Inc. CA grew its position in Fortive Corp (NYSE:FTV) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,115 shares of the technology company’s stock after purchasing an additional 14,300 shares during the period. Fortive comprises about 2.7% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 20th largest position. Kelly Lawrence W & Associates Inc. CA owned approximately 0.06% of Fortive worth $15,662,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Artisan Partners Limited Partnership increased its holdings in shares of Fortive by 16.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 4,757,642 shares of the technology company’s stock valued at $399,119,000 after acquiring an additional 661,196 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Fortive by 0.7% during the 2nd quarter. Northern Trust Corp now owns 4,346,853 shares of the technology company’s stock valued at $354,356,000 after acquiring an additional 28,760 shares during the last quarter. Winslow Capital Management LLC increased its holdings in shares of Fortive by 7.7% during the 2nd quarter. Winslow Capital Management LLC now owns 2,398,305 shares of the technology company’s stock valued at $195,509,000 after acquiring an additional 171,237 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Fortive by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after acquiring an additional 287,449 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Fortive by 11.2% during the 1st quarter. Champlain Investment Partners LLC now owns 2,034,815 shares of the technology company’s stock valued at $170,701,000 after acquiring an additional 205,445 shares during the last quarter. 82.61% of the stock is currently owned by institutional investors.
FTV traded up $0.32 during midday trading on Wednesday, reaching $69.38. The company’s stock had a trading volume of 14,019 shares, compared to its average volume of 2,093,395. The company has a fifty day simple moving average of $70.24 and a 200 day simple moving average of $79.06. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Fortive Corp has a twelve month low of $62.89 and a twelve month high of $89.48. The stock has a market cap of $23.49 billion, a P/E ratio of 22.66, a PEG ratio of 2.67 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio is currently 9.15%.
In other Fortive news, SVP Stacey A. Walker sold 34,446 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total value of $2,435,332.20. Following the completion of the sale, the senior vice president now owns 20,015 shares in the company, valued at approximately $1,415,060.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.70% of the stock is currently owned by company insiders.
FTV has been the topic of a number of analyst reports. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Bank of America lowered their price objective on Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Zacks Investment Research lowered Fortive from a “hold” rating to a “sell” rating and set a $74.00 price objective on the stock. in a report on Friday, August 30th. Credit Suisse Group reaffirmed a “hold” rating and issued a $76.00 target price on shares of Fortive in a report on Tuesday, September 10th. Finally, Cowen lowered Fortive from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $75.00 to $65.00 in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.86.
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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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