Welch & Forbes LLC Has $22.24 Million Position in Fortive Corp (FTV)

Welch & Forbes LLC lowered its stake in shares of Fortive Corp (NYSE:FTV) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 328,739 shares of the technology company’s stock after selling 9,326 shares during the period. Welch & Forbes LLC owned 0.10% of Fortive worth $22,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Fortive by 20.0% during the second quarter. FMR LLC now owns 23,755,263 shares of the technology company’s stock valued at $1,831,768,000 after acquiring an additional 3,960,523 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc. now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after acquiring an additional 203,786 shares during the last quarter. Vanguard Group Inc boosted its stake in shares of Fortive by 0.9% during the third quarter. Vanguard Group Inc now owns 22,405,241 shares of the technology company’s stock valued at $1,890,330,000 after acquiring an additional 203,786 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Fortive by 1,090.6% during the third quarter. Capital Research Global Investors now owns 5,072,880 shares of the technology company’s stock valued at $427,136,000 after acquiring an additional 4,646,796 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Fortive by 0.7% during the third quarter. Bessemer Group Inc. now owns 3,935,895 shares of the technology company’s stock valued at $331,403,000 after acquiring an additional 26,209 shares during the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on FTV. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. TheStreet raised Fortive from a “c” rating to a “b-” rating in a research note on Wednesday, January 30th. Morgan Stanley decreased their price objective on Fortive from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Tuesday, October 30th. Royal Bank of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of Fortive in a research note on Wednesday, November 21st. Finally, Credit Suisse Group decreased their price target on Fortive from $89.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, October 26th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $85.82.

NYSE:FTV traded up $0.30 during mid-day trading on Monday, reaching $77.12. The company’s stock had a trading volume of 41,767 shares, compared to its average volume of 1,400,416. The company has a current ratio of 1.45, a quick ratio of 1.18 and a debt-to-equity ratio of 0.45. Fortive Corp has a twelve month low of $62.89 and a twelve month high of $88.34. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.95 and a beta of 1.11.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Fortive had a return on equity of 22.42% and a net margin of 40.50%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company earned $0.82 EPS. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Fortive Corp will post 3.47 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 22nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, February 21st. Fortive’s payout ratio is 9.15%.

In other news, SVP Stacey A. Walker sold 468 shares of the firm’s stock in a transaction dated 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 SEC, which is available through the SEC website. Also, VP Jonathan L. Schwarz sold 8,869 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $74.70, for a total value of $662,514.30. Following the completion of the transaction, the vice president now owns 7,270 shares in the company, valued at $543,069. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,813 shares of company stock worth $732,570. 12.20% of the stock is owned by corporate insiders.

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About Fortive

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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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