Coldstream Capital Management Inc. Has $494,000 Stake in Fortive Corp (NYSE:FTV)
Coldstream Capital Management Inc. raised its stake in Fortive Corp (NYSE:FTV) by 36.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,960 shares of the technology company’s stock after purchasing an additional 2,388 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Fortive were worth $494,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in shares of Fortive by 32.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,523 shares of the technology company’s stock valued at $178,000 after purchasing an additional 612 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Fortive by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 134,685 shares of the technology company’s stock worth $10,289,000 after buying an additional 5,147 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Fortive in the 4th quarter worth approximately $37,000. Cetera Advisor Networks LLC bought a new position in shares of Fortive in the fourth quarter valued at approximately $423,000. Finally, Natixis Advisors L.P. increased its position in shares of Fortive by 28.4% during the fourth quarter. Natixis Advisors L.P. now owns 46,632 shares of the technology company’s stock valued at $3,562,000 after acquiring an additional 10,327 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.
Shares of FTV stock traded down $1.31 during trading hours on Friday, hitting $66.35. 211,866 shares of the company’s stock were exchanged, compared to its average volume of 2,657,841. The company has a market capitalization of $22.24 billion, a PE ratio of 41.54 and a beta of 1.23. The business’s 50 day simple moving average is $62.69 and its 200-day simple moving average is $67.13. Fortive Corp has a 12-month low of $37.31 and a 12-month high of $83.18. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.82.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, May 29th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.28 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 8.05%.
In related news, SVP William W. Pringle sold 5,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $62.86, for a total transaction of $314,300.00. Following the sale, the senior vice president now directly owns 69,183 shares of the company’s stock, valued at $4,348,843.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Martin Gafinowitz sold 34,947 shares of Fortive stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $61.03, for a total value of $2,132,815.41. Following the completion of the sale, the senior vice president now owns 78,526 shares of the company’s stock, valued at $4,792,441.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,081 shares of company stock worth $5,004,454. Corporate insiders own 12.60% of the company’s stock.
A number of research analysts have issued reports on the company. Credit Suisse Group reduced their price objective on Fortive from $85.00 to $71.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Citigroup assumed coverage on shares of Fortive in a report on Monday, April 27th. They set a “buy” rating and a $70.00 price objective for the company. Cowen upgraded shares of Fortive from an “underperform” rating to a “market perform” rating and set a $70.00 target price on the stock in a research note on Monday, March 9th. Morgan Stanley increased their target price on shares of Fortive from $72.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, June 19th. They noted that the move was a valuation call. Finally, Barclays reiterated a “buy” rating and issued a $73.00 price objective on shares of Fortive in a research note on Friday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Fortive presently has an average rating of “Hold” and an average price target of $75.86.
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.
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