Great West Life Assurance Co. Can Acquires 59,099 Shares of Fortive Corp (FTV)

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Great West Life Assurance Co. Can boosted its holdings in Fortive Corp (NYSE:FTV) by 31.6% during the first quarter, HoldingsChannel.com reports. The firm owned 246,240 shares of the technology company’s stock after acquiring an additional 59,099 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Fortive were worth $20,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE grew its holdings in shares of Fortive by 1.4% during the first quarter. US Bancorp DE now owns 188,305 shares of the technology company’s stock valued at $15,797,000 after buying an additional 2,671 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in shares of Fortive by 3.2% during the first quarter. Hartford Financial Management Inc. now owns 23,311 shares of the technology company’s stock valued at $1,956,000 after buying an additional 727 shares during the last quarter. Reilly Herbert Faulkner III grew its holdings in shares of Fortive by 4.0% during the first quarter. Reilly Herbert Faulkner III now owns 61,039 shares of the technology company’s stock valued at $5,121,000 after buying an additional 2,320 shares during the last quarter. Greenleaf Trust grew its holdings in shares of Fortive by 4.1% during the first quarter. Greenleaf Trust now owns 8,757 shares of the technology company’s stock valued at $735,000 after buying an additional 344 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in shares of Fortive by 4.6% during the first quarter. TD Asset Management Inc. now owns 469,377 shares of the technology company’s stock valued at $39,376,000 after buying an additional 20,589 shares during the last quarter. Institutional investors and hedge funds own 86.89% of the company’s stock.

Shares of FTV stock opened at $78.04 on Friday. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $89.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20. The company has a market capitalization of $26.15 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.71 and a beta of 1.13.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.69. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts predict that Fortive Corp will post 3.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders 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 annualized dividend and a yield of 0.36%. Fortive’s payout ratio is presently 9.15%.

In other Fortive news, insider Martin Gafinowitz sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $81.74, for a total value of $1,634,800.00. Following the transaction, the insider now directly owns 91,688 shares in the company, valued at $7,494,577.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Emily A. Weaver sold 519 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $80.98, for a total transaction of $42,028.62. Following the completion of the transaction, the vice president now owns 8,627 shares in the company, valued at $698,614.46. The disclosure for this sale can be found here. Insiders sold 38,684 shares of company stock worth $3,213,523 over the last quarter. Insiders own 12.70% of the company’s stock.

A number of research firms have recently commented on FTV. BMO Capital Markets increased their price target on shares of Fortive from $96.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, February 14th. Barclays increased their price target on shares of Fortive from $81.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. ValuEngine cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Finally, TheStreet upgraded shares of Fortive from a “c” rating to a “b-” rating in a report on Wednesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Fortive currently has a consensus rating of “Buy” and a consensus target price of $87.77.

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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 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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