Cullinan Associates Inc. Reduces Position in Fortive Corp (FTV)

Cullinan Associates Inc. lessened its holdings in shares of Fortive Corp (NYSE:FTV) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,652 shares of the technology company’s stock after selling 4,130 shares during the period. Cullinan Associates Inc.’s holdings in Fortive were worth $5,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. North Star Asset Management Inc. lifted its holdings in Fortive by 0.4% during the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock worth $488,000 after buying an additional 32 shares in the last quarter. Princeton Portfolio Strategies Group LLC lifted its holdings in Fortive by 1.6% during the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 5,568 shares of the technology company’s stock worth $353,000 after buying an additional 90 shares in the last quarter. J.P. Marvel Investment Advisors LLC lifted its holdings in Fortive by 0.5% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock worth $1,063,000 after buying an additional 90 shares in the last quarter. Profund Advisors LLC lifted its holdings in Fortive by 1.4% during the 2nd quarter. Profund Advisors LLC now owns 7,801 shares of the technology company’s stock worth $494,000 after buying an additional 111 shares in the last quarter. Finally, Roundview Capital LLC lifted its holdings in Fortive by 1.5% during the 2nd quarter. Roundview Capital LLC now owns 11,784 shares of the technology company’s stock worth $747,000 after buying an additional 175 shares in the last quarter. 78.80% of the stock is owned by institutional investors.

In other news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the sale, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by company insiders.

FTV has been the topic of a number of research reports. SunTrust Banks reiterated a “buy” rating and set a $81.00 target price on shares of Fortive in a report on Friday, October 27th. Citigroup increased their target price on shares of Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Royal Bank of Canada reiterated a “hold” rating and set a $70.00 target price on shares of Fortive in a report on Wednesday, October 11th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Wednesday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Fortive has an average rating of “Hold” and a consensus price target of $72.70.

Shares of Fortive Corp (FTV) traded up $0.75 on Wednesday, hitting $74.74. 1,525,285 shares of the stock were exchanged, compared to its average volume of 1,334,873. Fortive Corp has a fifty-two week low of $53.59 and a fifty-two week high of $75.69. The firm has a market cap of $25,730.00 and a price-to-earnings ratio of 28.20. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.95 and a quick ratio of 1.54.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned $0.65 EPS. The company’s revenue was up 7.4% on a year-over-year basis. equities research analysts expect that Fortive Corp will post 2.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, November 24th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s payout ratio is 10.57%.

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Fortive Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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