Baldwin Investment Management LLC Has $1.46 Million Stake in Fortive Co. (NYSE:FTV)

Baldwin Investment Management LLC reduced its holdings in Fortive Co. (NYSE:FTV - Free Report) by 20.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,510 shares of the technology company's stock after selling 4,958 shares during the period. Baldwin Investment Management LLC's holdings in Fortive were worth $1,463,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. First Hawaiian Bank raised its position in shares of Fortive by 197.0% in the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after buying an additional 10,125 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after acquiring an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock valued at $2,832,000 after buying an additional 7,829 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock worth $118,292,000 after acquiring an additional 303,788 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in Fortive in the fourth quarter valued at approximately $358,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares of the company's stock, valued at $1,941,425.85. This trade represents a 21.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now owns 47,141 shares in the company, valued at $3,795,793.32. This represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock valued at $19,508,529 in the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, February 10th. Barclays cut their price target on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating on the stock in a report on Tuesday. Citigroup reduced their target price on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada increased their target price on Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Eight research 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.com, Fortive currently has a consensus rating of "Moderate Buy" and an average target price of $80.85.

Fortive Stock Performance

NYSE:FTV traded up $1.83 during trading hours on Thursday, reaching $69.86. 3,360,262 shares of the stock were exchanged, compared to its average volume of 2,433,547. Fortive Co. has a 52 week low of $60.39 and a 52 week high of $83.32. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $23.74 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.68 and a beta of 1.10. The firm has a 50 day simple moving average of $70.39 and a 200-day simple moving average of $75.00.

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 for the quarter, meeting analysts' consensus estimates of $0.85. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 earnings per share. As a group, sell-side analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's dividend payout ratio is currently 14.04%.

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.