Ferguson Wellman Capital Management Inc. Boosts Position in Fortive Co. (NYSE:FTV)

Ferguson Wellman Capital Management Inc. grew its stake in Fortive Co. (NYSE:FTV - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 997,413 shares of the technology company's stock after purchasing an additional 16,394 shares during the period. Fortive comprises approximately 1.4% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Ferguson Wellman Capital Management Inc. owned 0.29% of Fortive worth $72,991,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Net Worth Advisory Group purchased a new stake in Fortive in the 1st quarter worth approximately $271,000. Visionary Horizons LLC lifted its position in shares of Fortive by 91.5% during the 1st quarter. Visionary Horizons LLC now owns 8,360 shares of the technology company's stock valued at $612,000 after buying an additional 3,994 shares in the last quarter. CX Institutional purchased a new position in shares of Fortive during the 1st quarter valued at approximately $189,000. Assenagon Asset Management S.A. lifted its position in shares of Fortive by 5.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 45,406 shares of the technology company's stock valued at $3,323,000 after buying an additional 2,161 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in shares of Fortive by 9.6% during the 1st quarter. Daymark Wealth Partners LLC now owns 16,109 shares of the technology company's stock valued at $1,179,000 after buying an additional 1,405 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Trading Down 0.5%

FTV traded down $0.39 on Thursday, hitting $70.91. The company had a trading volume of 1,939,772 shares, compared to its average volume of 2,635,834. The company's fifty day moving average price is $69.04 and its 200 day moving average price is $74.47. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $83.32. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market cap of $24.10 billion, a P/E ratio of 30.05, a PEG ratio of 2.68 and a beta of 1.11.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business's revenue was down 3.3% on a year-over-year basis. As a group, equities analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's payout ratio is 14.04%.

Fortive declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 27th that authorizes the company to repurchase 15,630,000 shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTV. Citigroup decreased their target price on Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada increased their price objective on Fortive from $78.00 to $79.00 and gave the company a "sector perform" rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. BNP Paribas downgraded Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price objective for the company. in a research note on Wednesday, April 9th. Finally, Robert W. Baird reduced their price objective on Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.62.

Insider Activity at Fortive

In other news, SVP Peter C. Underwood sold 14,327 shares of Fortive stock in a transaction dated Monday, May 12th. The stock was 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 now owns 51,750 shares in the company, valued at approximately $3,823,290. This trade represents a 21.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James A. Lico sold 175,000 shares of Fortive stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $72.40, for a total value of $12,670,000.00. Following the completion of the transaction, the chief executive officer now owns 428,585 shares of the company's stock, valued at $31,029,554. The trade was a 28.99% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.

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.