Fortive Co. (NYSE:FTV) Stock Holdings Reduced by Gates Capital Management Inc.

Gates Capital Management Inc. cut its stake in Fortive Co. (NYSE:FTV - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,413,371 shares of the technology company's stock after selling 398,591 shares during the period. Fortive makes up approximately 3.4% of Gates Capital Management Inc.'s holdings, making the stock its 3rd largest holding. Gates Capital Management Inc. owned about 0.70% of Fortive worth $181,003,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Parvin Asset Management LLC acquired a new stake in shares of Fortive in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Fortive in the fourth quarter valued at $31,000. Crews Bank & Trust purchased a new stake in Fortive during the 4th quarter worth about $37,000. Quarry LP lifted its stake in shares of Fortive by 229.6% during the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after buying an additional 349 shares during the period. Finally, Albion Financial Group UT acquired a new stake in Fortive during the fourth quarter worth approximately $38,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

FTV opened at $70.45 on Friday. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32. The firm has a market cap of $23.94 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.68 and a beta of 1.10. 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 company has a fifty day simple moving average of $70.07 and a 200 day simple moving average of $74.91.

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

Fortive Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on FTV. JPMorgan Chase & Co. reduced their price target on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Barclays cut their price objective on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating on the stock in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Finally, Robert W. Baird dropped their price target on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.85.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $79.05, for a total value of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,385 shares of company stock valued at $19,508,529. Insiders own 1.01% of the company's stock.

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.

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