Massachusetts Financial Services Co. MA Grows Holdings in Fortive Corp (FTV)

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Massachusetts Financial Services Co. MA grew its holdings in Fortive Corp (NYSE:FTV) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,065,139 shares of the technology company’s stock after purchasing an additional 18,244 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.52% of Fortive worth $342,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FTV. Vanguard Group Inc. raised its position in Fortive by 0.9% in 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 purchasing an additional 203,786 shares during the period. Vanguard Group Inc raised its position in Fortive by 0.9% in 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 purchasing an additional 203,786 shares during the period. Capital Research Global Investors raised its position in Fortive by 1,090.6% in 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 purchasing an additional 4,646,796 shares during the period. Bessemer Group Inc. raised its position in Fortive by 0.7% in the third quarter. Bessemer Group Inc. now owns 3,935,895 shares of the technology company’s stock valued at $331,403,000 after purchasing an additional 26,209 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Fortive by 3,401.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock valued at $37,000 after purchasing an additional 2,461,167 shares during the period. 98.46% of the stock is currently owned by institutional investors and hedge funds.

NYSE:FTV opened at $81.60 on Tuesday. The firm has a market capitalization of $27.17 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.34 and a beta of 1.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.45 and a quick ratio of 1.18. Fortive Corp has a 52 week low of $62.89 and a 52 week high of $88.34.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Thursday, February 7th. The technology company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a net margin of 40.50% and a return on equity of 22.42%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. On average, sell-side analysts anticipate that Fortive Corp will post 3.5 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. The ex-dividend date is Thursday, February 21st. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. Fortive’s dividend payout ratio (DPR) is 9.15%.

A number of brokerages have issued reports on FTV. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday. William Blair restated a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. TheStreet upgraded shares of Fortive from a “c” rating to a “b-” rating in a research note on Wednesday, January 30th. Credit Suisse Group restated a “neutral” rating and issued a $78.00 price target (down previously from $86.00) on shares of Fortive in a research note on Thursday, January 3rd. Finally, Morgan Stanley upgraded shares of Fortive from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $84.00 to $82.00 in a research note on Tuesday, December 18th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Fortive has an average rating of “Buy” and a consensus target price of $85.50.

In related news, insider William W. Pringle sold 435 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $80.66, for a total transaction of $35,087.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.20% of the company’s stock.

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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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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