Diversified Trust Co grew its position in shares of Fortive Corp (NYSE:FTV) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,956 shares of the technology company’s stock after purchasing an additional 1,701 shares during the quarter. Diversified Trust Co’s holdings in Fortive were worth $1,292,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Fortive by 1.1% during the second quarter. Vanguard Group Inc. now owns 23,027,291 shares of the technology company’s stock valued at $1,558,027,000 after purchasing an additional 253,327 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Fortive by 86.4% in the first quarter. Capital Research Global Investors now owns 8,936,013 shares of the technology company’s stock worth $493,179,000 after acquiring an additional 4,142,947 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Fortive by 22.5% in the second quarter. Bank of New York Mellon Corp now owns 2,629,774 shares of the technology company’s stock worth $177,930,000 after acquiring an additional 483,220 shares during the period. Bessemer Group Inc. lifted its stake in shares of Fortive by 1.8% in the second quarter. Bessemer Group Inc. now owns 2,519,270 shares of the technology company’s stock worth $170,454,000 after acquiring an additional 45,492 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fortive by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,356,344 shares of the technology company’s stock worth $91,771,000 after acquiring an additional 19,599 shares during the period. 86.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Steven M. Rales sold 5,000,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.88, for a total transaction of $354,400,000.00. Also, SVP Patrick K. Murphy sold 37,882 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $72.50, for a total value of $2,746,445.00. Following the sale, the senior vice president now owns 38,841 shares of the company’s stock, valued at approximately $2,815,972.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,857,144 shares of company stock valued at $627,156,617. Corporate insiders own 12.60% of the company’s stock.

A number of research firms recently commented on FTV. Royal Bank of Canada reaffirmed a “hold” rating and issued a $74.00 price objective on shares of Fortive in a research note on Thursday, July 30th. Robert W. Baird raised Fortive from a “neutral” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, June 25th. Credit Suisse Group cut their price objective on Fortive from $89.00 to $74.00 and set an “outperform” rating on the stock in a research note on Wednesday. CSFB boosted their price target on Fortive from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Finally, Morgan Stanley dropped their price target on Fortive from $88.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $80.38.

NYSE FTV opened at $67.14 on Friday. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 45.36, a P/E/G ratio of 3.53 and a beta of 1.14. Fortive Corp has a 52 week low of $37.31 and a 52 week high of $82.12. The business has a 50 day moving average price of $74.40 and a 200-day moving average price of $67.39. The company has a quick ratio of 0.90, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Fortive (NYSE:FTV) last released its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.10. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.49 billion. Fortive had a return on equity of 16.22% and a net margin of 8.00%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.90 earnings per share. On average, equities research analysts anticipate that Fortive Corp will post 3.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, August 28th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, August 27th. This represents a $0.28 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio is 8.05%.

Fortive 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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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