Comerica Bank Trims Stake in Fortive Corp (FTV)

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Comerica Bank reduced its position in shares of Fortive Corp (NYSE:FTV) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,332 shares of the technology company’s stock after selling 5,139 shares during the period. Comerica Bank’s holdings in Fortive were worth $6,436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FTV. Cullen Frost Bankers Inc. boosted its holdings in Fortive by 5.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 121,223 shares of the technology company’s stock valued at $8,202,000 after acquiring an additional 6,711 shares during the last quarter. EFG Asset Management Americas Corp. boosted its holdings in Fortive by 2.0% in the fourth quarter. EFG Asset Management Americas Corp. now owns 73,635 shares of the technology company’s stock valued at $4,982,000 after acquiring an additional 1,457 shares during the last quarter. Redmond Asset Management LLC boosted its holdings in Fortive by 2.1% in the fourth quarter. Redmond Asset Management LLC now owns 8,480 shares of the technology company’s stock valued at $574,000 after acquiring an additional 175 shares during the last quarter. Waratah Capital Advisors Ltd. bought a new stake in Fortive in the fourth quarter valued at approximately $10,328,000. Finally, Canandaigua National Bank & Trust Co. boosted its holdings in Fortive by 3.4% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 5,281 shares of the technology company’s stock valued at $357,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 98.46% of the company’s stock.

FTV has been the topic of several analyst reports. Credit Suisse Group reiterated a “neutral” rating and issued a $78.00 target price (down from $86.00) on shares of Fortive in a report on Thursday, January 3rd. SunTrust Banks reduced their target price on Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, October 29th. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Morgan Stanley raised Fortive from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $84.00 to $82.00 in a research note on Tuesday, December 18th. Finally, William Blair reissued a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $85.40.

NYSE FTV opened at $81.06 on Thursday. The firm has a market capitalization of $26.88 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.04 and a beta of 1.11. Fortive Corp has a 12 month low of $62.89 and a 12 month high of $88.34. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45.

Fortive (NYSE:FTV) last released its quarterly earnings results on Thursday, February 7th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.77 billion. Fortive had a return on equity of 22.42% and a net margin of 40.50%. Fortive’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. Equities analysts expect that Fortive Corp will post 3.48 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, February 22nd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Thursday, February 21st. Fortive’s payout ratio is currently 9.15%.

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Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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