Osborne Partners Capital Management LLC Sells 40,750 Shares of Fortive Corp (FTV)

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Osborne Partners Capital Management LLC reduced its position in Fortive Corp (NYSE:FTV) by 87.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the technology company’s stock after selling 40,750 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Fortive were worth $487,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FTV. Enterprise Bank & Trust Co bought a new position in Fortive in the first quarter worth about $1,649,000. North Point Portfolio Managers Corp OH raised its holdings in Fortive by 0.8% in the first quarter. North Point Portfolio Managers Corp OH now owns 153,449 shares of the technology company’s stock worth $12,873,000 after purchasing an additional 1,218 shares in the last quarter. Redmond Asset Management LLC raised its holdings in Fortive by 61.5% in the first quarter. Redmond Asset Management LLC now owns 13,695 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 5,215 shares in the last quarter. Baldwin Brothers Inc. MA bought a new position in Fortive in the first quarter worth about $29,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Fortive in the first quarter worth about $476,000. Hedge funds and other institutional investors own 85.06% of the company’s stock.

A number of brokerages have recently weighed in on FTV. Zacks Investment Research lowered Fortive from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. William Blair restated a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. TheStreet upgraded 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 set a $78.00 price target (down previously from $86.00) on shares of Fortive in a research note on Thursday, January 3rd. Finally, ValuEngine upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $86.70.

In related news, SVP Stacey A. Walker sold 1,783 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $81.87, for a total value of $145,974.21. Following the sale, the senior vice president now owns 16,036 shares in the company, valued at $1,312,867.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William W. Pringle sold 435 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $80.66, for a total value of $35,087.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,964 shares of company stock worth $486,847. 12.20% of the stock is owned by insiders.

Shares of FTV stock traded up $0.10 during trading hours on Wednesday, reaching $89.06. 1,034,532 shares of the company’s stock were exchanged, compared to its average volume of 1,436,865. Fortive Corp has a 1 year low of $62.89 and a 1 year high of $89.48. The firm has a market capitalization of $29.87 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.18 and a current ratio of 1.45.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, February 7th. The technology company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 22.42% and a net margin of 40.50%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. As a group, equities analysts forecast that Fortive Corp will post 3.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 0.31%. Fortive’s dividend payout ratio is currently 9.15%.

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

See Also: Quiet Period Expirations

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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