Mason Street Advisors LLC Increases Holdings in Fortive Corp (FTV)

Share on StockTwits

Mason Street Advisors LLC boosted its holdings in shares of Fortive Corp (NYSE:FTV) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,011 shares of the technology company’s stock after acquiring an additional 577 shares during the period. Mason Street Advisors LLC’s holdings in Fortive were worth $3,524,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Fortive during the first quarter worth approximately $25,000. Baystate Wealth Management LLC increased its position in Fortive by 837.8% during the fourth quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock worth $25,000 after purchasing an additional 310 shares during the last quarter. Baldwin Brothers Inc. MA acquired a new position in Fortive during the first quarter worth approximately $29,000. Pinnacle Bank acquired a new position in Fortive during the fourth quarter worth approximately $27,000. Finally, Paragon Capital Management LLC acquired a new position in Fortive during the first quarter worth approximately $34,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Thursday. Berenberg Bank assumed coverage on shares of Fortive in a research note on Wednesday, May 15th. They set a “buy” rating and a $96.00 price objective for the company. ValuEngine downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Morgan Stanley downgraded shares of Fortive from an “overweight” rating to an “equal weight” rating and set a $83.48 price objective for the company. in a research note on Wednesday, May 8th. They noted that the move was a valuation call. Finally, Argus reiterated a “buy” rating on shares of Fortive in a research note on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $87.77.

In other Fortive news, insider William W. Pringle sold 435 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $80.66, for a total transaction of $35,087.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Martin Gafinowitz sold 20,000 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $81.74, for a total transaction of $1,634,800.00. Following the sale, the insider now directly owns 91,688 shares in the company, valued at $7,494,577.12. The disclosure for this sale can be found here. Insiders have sold 38,600 shares of company stock worth $3,206,581 over the last three months. 12.70% of the stock is owned by corporate insiders.

Shares of NYSE:FTV opened at $80.52 on Monday. The firm has a market cap of $26.98 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13. Fortive Corp has a 1-year low of $62.89 and a 1-year high of $89.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.97 and a current ratio of 2.20.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, April 25th. The technology company reported $0.69 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.69. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Fortive had a net margin of 39.98% and a return on equity of 19.44%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts anticipate that Fortive Corp will post 3.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. Fortive’s dividend payout ratio (DPR) is 9.15%.

TRADEMARK VIOLATION NOTICE: “Mason Street Advisors LLC Increases Holdings in Fortive Corp (FTV)” was reported by Macon Daily and is the sole property of of Macon Daily. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://macondaily.com/2019/05/20/mason-street-advisors-llc-increases-holdings-in-fortive-corp-ftv.html.

About Fortive

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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

Featured Story: How does a security become overbought?

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Corp (NYSE:FTV).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

Receive News & Ratings for Fortive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortive and related companies with MarketBeat.com's FREE daily email newsletter.