Middleton & Co Inc MA grew its position in shares of Fortive Corp (NYSE:FTV) by 12.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 116,247 shares of the technology company’s stock after acquiring an additional 12,711 shares during the period. Middleton & Co Inc MA’s holdings in Fortive were worth $7,970,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. boosted its holdings in Fortive by 10.9% in the third quarter. Whittier Trust Co. now owns 220,692 shares of the technology company’s stock valued at $15,131,000 after purchasing an additional 21,705 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Fortive by 13.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 71,397 shares of the technology company’s stock valued at $4,895,000 after purchasing an additional 8,297 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Fortive by 20.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,959 shares of the technology company’s stock valued at $4,385,000 after purchasing an additional 10,713 shares during the last quarter. Endurance Wealth Management Inc. boosted its holdings in Fortive by 3.2% in the third quarter. Endurance Wealth Management Inc. now owns 28,777 shares of the technology company’s stock valued at $1,973,000 after purchasing an additional 882 shares during the last quarter. Finally, Fulton Breakefield Broenniman LLC boosted its holdings in Fortive by 1.2% in the third quarter. Fulton Breakefield Broenniman LLC now owns 154,588 shares of the technology company’s stock valued at $10,599,000 after purchasing an additional 1,869 shares during the last quarter. Institutional investors own 82.65% of the company’s stock.
NYSE:FTV traded up $1.11 during trading hours on Monday, reaching $72.05. 73,066 shares of the stock were exchanged, compared to its average volume of 2,422,858. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.76. The firm has a 50 day simple moving average of $68.31 and a 200-day simple moving average of $76.77. Fortive Corp has a 52 week low of $62.89 and a 52 week high of $89.48. The stock has a market capitalization of $23.79 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.73 and a beta of 1.21.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, August 29th. Fortive’s dividend payout ratio is presently 9.15%.
A number of research analysts recently commented on FTV shares. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a report on Tuesday, October 1st. Bank of America reduced their price target on Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Morgan Stanley reduced their price target on Fortive from $85.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, October 11th. Barclays reduced their price target on Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Gordon Haskett downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.25.
In other news, SVP Stacey A. Walker sold 34,446 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 20,015 shares in the company, valued at approximately $1,415,060.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.70% of the stock is currently owned by corporate insiders.
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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