Hudson Bay Capital Management LP Has $11.63 Million Stake in Fortive Co. (NYSE:FTV)

Hudson Bay Capital Management LP lowered its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,066 shares of the technology company's stock after selling 14,934 shares during the quarter. Hudson Bay Capital Management LP's holdings in Fortive were worth $11,630,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock valued at $32,052,000 after purchasing an additional 10,795 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Fortive by 26.4% during 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 purchasing an additional 7,829 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in Fortive during the fourth quarter valued at approximately $358,000. Czech National Bank grew its holdings in Fortive by 5.3% during the fourth quarter. Czech National Bank now owns 75,186 shares of the technology company's stock valued at $5,639,000 after purchasing an additional 3,818 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new position in Fortive during the fourth quarter valued at approximately $5,140,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity

In related news, SVP Stacey A. Walker sold 3,002 shares of the company'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 represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 432,712 shares of company stock valued at $33,237,008 over the last ninety days. 1.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FTV. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Barclays decreased their price objective on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company upped their price target 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. Royal Bank of Canada upped their price target on shares of Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.92.

Fortive Stock Up 1.1%

Shares of FTV stock traded up $0.78 during trading on Friday, reaching $73.26. The company's stock had a trading volume of 3,225,396 shares, compared to its average volume of 2,500,148. The business has a fifty day moving average price of $69.77 and a 200-day moving average price of $74.87. 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 company has a market cap of $24.90 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. Fortive Co. has a one year low of $60.39 and a one year high of $83.32.

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

Fortive Dividend Announcement

The business also recently disclosed 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 0.44%. The ex-dividend date is Friday, May 30th. Fortive's payout ratio is presently 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.