M&T Bank Corp Has $2.13 Million Holdings in Fortive Corporation (NYSE:FTV)

M&T Bank Corp lowered its stake in Fortive Corporation (NYSE:FTV - Free Report) by 17.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 29,091 shares of the technology company's stock after selling 6,354 shares during the period. M&T Bank Corp's holdings in Fortive were worth $2,129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Counselors Inc. grew its position in shares of Fortive by 2.6% during the 1st quarter. Financial Counselors Inc. now owns 177,369 shares of the technology company's stock valued at $12,980,000 after buying an additional 4,466 shares during the last quarter. Drake & Associates LLC grew its position in shares of Fortive by 28.7% during the 1st quarter. Drake & Associates LLC now owns 22,298 shares of the technology company's stock valued at $1,632,000 after buying an additional 4,978 shares during the last quarter. World Investment Advisors grew its position in shares of Fortive by 32.4% during the 1st quarter. World Investment Advisors now owns 5,037 shares of the technology company's stock valued at $369,000 after buying an additional 1,234 shares during the last quarter. Brookstone Capital Management bought a new stake in shares of Fortive during the 1st quarter valued at about $3,542,000. Finally, Timber Creek Capital Management LLC bought a new stake in shares of Fortive during the 1st quarter valued at about $5,407,000. Institutional investors own 94.94% of the company's stock.

Insider Activity at Fortive

In other Fortive news, CEO James A. Lico sold 175,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 428,585 shares in the company, valued at approximately $31,029,554. This represents a 28.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter C. Underwood sold 14,327 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $73.88, for a total transaction of $1,058,478.76. Following the transaction, the senior vice president owned 51,750 shares in the company, valued at approximately $3,823,290. This trade represents 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 Trading Down 0.8%

Shares of NYSE:FTV traded down $0.40 during mid-day trading on Friday, hitting $52.66. The stock had a trading volume of 3,538,992 shares, compared to its average volume of 2,806,106. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.78 and a current ratio of 0.99. The company has a market cap of $17.90 billion, a PE ratio of 23.10, a P/E/G ratio of 2.61 and a beta of 1.09. Fortive Corporation has a 12-month low of $50.00 and a 12-month high of $83.32. The company's 50 day moving average is $67.32 and its 200-day moving average is $72.17.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. On average, sell-side analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive declared that its board has initiated a share 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FTV shares. Royal Bank Of Canada upped their target price on shares of Fortive from $78.00 to $79.00 and gave the stock a "sector perform" rating in a research report on Monday, June 9th. Citigroup cut their target price on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wall Street Zen raised shares of Fortive to a "hold" rating in a research note on Saturday, July 5th. Robert W. Baird cut their target price on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Raymond James Financial cut their target price on shares of Fortive from $90.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, July 1st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $73.67.

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.