Assetmark Inc. Has $1.76 Million Position in Fortive Corporation (NYSE:FTV)

Assetmark Inc. grew its stake in Fortive Corporation (NYSE:FTV - Free Report) by 49.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,101 shares of the technology company's stock after acquiring an additional 7,956 shares during the period. Assetmark Inc.'s holdings in Fortive were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Tandem Capital Management Corp ADV increased its stake in shares of Fortive by 0.6% in the 1st quarter. Tandem Capital Management Corp ADV now owns 27,557 shares of the technology company's stock valued at $2,017,000 after buying an additional 160 shares during the period. Forum Financial Management LP grew its stake in shares of Fortive by 2.3% during the first quarter. Forum Financial Management LP now owns 7,119 shares of the technology company's stock worth $521,000 after purchasing an additional 161 shares during the period. RDA Financial Network grew its stake in shares of Fortive by 3.5% during the first quarter. RDA Financial Network now owns 4,965 shares of the technology company's stock worth $363,000 after purchasing an additional 169 shares during the period. Tritonpoint Wealth LLC grew its stake in shares of Fortive by 3.1% during the first quarter. Tritonpoint Wealth LLC now owns 6,208 shares of the technology company's stock worth $454,000 after purchasing an additional 187 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Fortive by 37.5% during the first quarter. Exchange Traded Concepts LLC now owns 686 shares of the technology company's stock worth $50,000 after purchasing an additional 187 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Activity at Fortive

In other news, CEO James A. Lico sold 175,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $72.40, for a total value of $12,670,000.00. Following the transaction, the chief executive officer owned 428,585 shares of the company's stock, valued at approximately $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Peter C. Underwood sold 14,327 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $73.88, for a total value of $1,058,478.76. Following the completion of the transaction, the senior vice president directly owned 51,750 shares in the company, valued at $3,823,290. The trade was a 21.68% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

Fortive Stock Performance

NYSE:FTV traded down $1.34 on Friday, hitting $46.59. The company's stock had a trading volume of 4,973,340 shares, compared to its average volume of 3,898,921. The company has a current ratio of 0.98, a quick ratio of 0.78 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $61.63 and a two-hundred day moving average of $69.78. The firm has a market capitalization of $15.76 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 3.02 and a beta of 1.09. Fortive Corporation has a one year low of $46.47 and a one year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.54 billion. Fortive had a net margin of 13.62% and a return on equity of 11.96%. Fortive's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. Research analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive declared that its board has approved a stock repurchase plan on Tuesday, May 27th that permits the company to repurchase 15,630,000 outstanding shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup decreased their price objective on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Melius Research upgraded Fortive to a "hold" rating in a report on Tuesday, July 22nd. Robert W. Baird reduced their target price on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Mizuho cut their price target on Fortive from $85.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Fortive to a "hold" rating in a report on Saturday, July 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Fortive currently has an average rating of "Hold" and a consensus price target of $65.86.

Fortive 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.