United Services Automobile Association Raises Stock Position in Fortive Corp (NYSE:FTV)

United Services Automobile Association grew its holdings in Fortive Corp (NYSE:FTV) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,705 shares of the technology company’s stock after acquiring an additional 639 shares during the period. United Services Automobile Association’s holdings in Fortive were worth $7,802,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FTV. Nuveen Asset Management LLC raised its stake in shares of Fortive by 23,241.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,906,599 shares of the technology company’s stock valued at $318,466,000 after acquiring an additional 3,889,862 shares during the period. Baillie Gifford & Co. raised its stake in shares of Fortive by 19.5% in the 2nd quarter. Baillie Gifford & Co. now owns 1,873,187 shares of the technology company’s stock valued at $152,702,000 after acquiring an additional 305,037 shares during the period. Schroder Investment Management Group raised its stake in shares of Fortive by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 2,232,096 shares of the technology company’s stock valued at $181,961,000 after acquiring an additional 287,449 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Fortive by 18.4% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,651,274 shares of the technology company’s stock valued at $134,613,000 after acquiring an additional 257,016 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Fortive by 230.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 365,594 shares of the technology company’s stock valued at $29,804,000 after acquiring an additional 254,963 shares during the period. 82.61% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on FTV. Gordon Haskett downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Raymond James set a $84.00 target price on shares of Fortive and gave the company an “outperform” rating in a research note on Friday, July 26th. Credit Suisse Group reissued a “hold” rating and issued a $76.00 target price on shares of Fortive in a research note on Tuesday, September 10th. Bank of America cut their target price on shares of Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Berenberg Bank set a $86.00 target price on shares of Fortive and gave the company a “buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Fortive presently has a consensus rating of “Hold” and a consensus target price of $80.77.

Fortive stock traded up $1.38 during midday trading on Thursday, hitting $65.81. 1,458,016 shares of the stock were exchanged, compared to its average volume of 2,693,261. Fortive Corp has a 1 year low of $62.89 and a 1 year high of $89.48. The firm has a market cap of $23.00 billion, a P/E ratio of 21.51, a P/E/G ratio of 2.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 0.98. The company has a 50 day moving average price of $68.85 and a two-hundred day moving average price of $78.02.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, July 25th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. Fortive had a net margin of 38.22% and a return on equity of 18.43%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. As a group, analysts predict that Fortive Corp will post 3.5 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Thursday, August 29th. Fortive’s dividend payout ratio (DPR) is 9.15%.

In related news, SVP Stacey A. Walker sold 34,446 shares of Fortive stock in a transaction on Monday, August 5th. The shares were sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the sale, the senior vice president now owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.70% of the company’s stock.

Fortive 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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