Creative Planning Has $2.07 Million Position in Fortive Corporation $FTV

Creative Planning lifted its stake in shares of Fortive Corporation (NYSE:FTV) by 16.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,681 shares of the technology company’s stock after purchasing an additional 5,665 shares during the period. Creative Planning’s holdings in Fortive were worth $2,069,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Fortive by 6.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 83,358 shares of the technology company’s stock worth $4,345,000 after purchasing an additional 5,330 shares in the last quarter. Candriam S.C.A. lifted its stake in shares of Fortive by 0.6% in the second quarter. Candriam S.C.A. now owns 77,442 shares of the technology company’s stock worth $4,037,000 after acquiring an additional 491 shares during the period. Police & Firemen s Retirement System of New Jersey lifted its holdings in Fortive by 3.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 52,052 shares of the technology company’s stock valued at $2,713,000 after buying an additional 1,886 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Fortive by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,689,681 shares of the technology company’s stock worth $451,093,000 after buying an additional 211,694 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Fortive by 17.3% during the 2nd quarter. KBC Group NV now owns 261,249 shares of the technology company’s stock worth $13,619,000 after purchasing an additional 38,466 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Fortive in a report on Wednesday, November 19th. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research note on Friday, September 5th. Morgan Stanley lifted their price target on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Finally, Barclays upped their target price on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $57.38.

Fortive Stock Up 1.6%

Shares of NYSE:FTV opened at $53.28 on Wednesday. The stock’s 50-day moving average is $49.91 and its 200 day moving average is $55.01. The company has a market cap of $16.92 billion, a PE ratio of 30.45, a P/E/G ratio of 3.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The firm had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. Sell-side analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio is 13.71%.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.