Bank of New York Mellon Corp Has $109.03 Million Position in Fortive Corporation $FTV

Bank of New York Mellon Corp raised its stake in Fortive Corporation (NYSE:FTV) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,091,562 shares of the technology company’s stock after purchasing an additional 5,725 shares during the period. Bank of New York Mellon Corp’s holdings in Fortive were worth $109,033,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Dodge & Cox increased its position in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock worth $1,602,669,000 after buying an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 50.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after buying an additional 4,382,242 shares during the period. Invesco Ltd. raised its position in Fortive by 96.6% during the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after purchasing an additional 2,764,432 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of Fortive by 4.9% during the 1st quarter. Select Equity Group L.P. now owns 4,509,598 shares of the technology company’s stock worth $330,012,000 after buying an additional 212,025 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Fortive by 2.8% in the first quarter. Northern Trust Corp now owns 4,067,929 shares of the technology company’s stock worth $297,691,000 after acquiring an additional 109,307 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FTV. Weiss Ratings upgraded shares of Fortive from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Barclays upped their target price on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Melius Research upgraded Fortive to a “hold” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada cut their price target on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 31st. Finally, TD Cowen downgraded Fortive from a “buy” rating to a “hold” rating and lowered their price objective for the company from $85.00 to $50.00 in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.29.

Fortive Stock Up 0.3%

Shares of FTV opened at $51.22 on Friday. The company has a market capitalization of $16.27 billion, a PE ratio of 29.27, a PEG ratio of 3.08 and a beta of 1.16. The stock’s 50-day moving average price is $49.06 and its two-hundred day moving average price is $56.58. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The company had revenue of $1.07 billion during the quarter. On average, analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be given a $0.06 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is 13.71%.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.