Flossbach Von Storch AG Has $184.08 Million Stock Position in Fortive Corp (NYSE:FTV)

Flossbach Von Storch AG raised its position in shares of Fortive Corp (NYSE:FTV) by 53.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,335,290 shares of the technology company’s stock after purchasing an additional 1,162,230 shares during the period. Fortive makes up approximately 1.2% of Flossbach Von Storch AG’s investment portfolio, making the stock its 19th biggest position. Flossbach Von Storch AG’s holdings in Fortive were worth $184,075,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in shares of Fortive by 41.3% during the fourth quarter. Meeder Asset Management Inc. now owns 486 shares of the technology company’s stock worth $37,000 after buying an additional 142 shares in the last quarter. VeraBank N.A. grew its stake in shares of Fortive by 2.2% in the fourth quarter. VeraBank N.A. now owns 6,887 shares of the technology company’s stock worth $526,000 after purchasing an additional 150 shares during the last quarter. MAI Capital Management grew its stake in shares of Fortive by 2.2% in the fourth quarter. MAI Capital Management now owns 8,376 shares of the technology company’s stock worth $640,000 after purchasing an additional 178 shares during the last quarter. Redmond Asset Management LLC grew its stake in shares of Fortive by 1.4% in the first quarter. Redmond Asset Management LLC now owns 13,919 shares of the technology company’s stock worth $768,000 after purchasing an additional 186 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its stake in shares of Fortive by 25.6% in the fourth quarter. CSat Investment Advisory L.P. now owns 977 shares of the technology company’s stock worth $74,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 81.39% of the company’s stock.

Shares of FTV stock traded up $0.25 on Friday, reaching $58.53. 1,556,134 shares of the company were exchanged, compared to its average volume of 2,371,100. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 36.35 and a beta of 1.28. The company has a 50-day moving average of $58.95 and a 200-day moving average of $68.28. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.32. Fortive Corp has a one year low of $37.31 and a one year high of $83.18.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, April 30th. The technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. Fortive had a net margin of 8.28% and a return on equity of 17.55%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Fortive Corp will post 2.82 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 29th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Thursday, May 28th. Fortive’s dividend payout ratio is currently 8.05%.

A number of analysts have commented on FTV shares. Rosenblatt Securities reaffirmed a “hold” rating and set a $78.00 price target on shares of Fortive in a research report on Tuesday, February 25th. Raymond James cut shares of Fortive from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Credit Suisse Group cut their price target on shares of Fortive from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Barclays reaffirmed a “buy” rating and set a $73.00 price target on shares of Fortive in a research report on Friday, April 17th. Finally, Zacks Investment Research cut shares of Fortive from a “hold” rating to a “sell” rating and set a $61.00 price target on the stock. in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Fortive has a consensus rating of “Hold” and a consensus price target of $74.31.

In related news, SVP Stacey A. Walker sold 1,754 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $73.77, for a total value of $129,392.58. Following the completion of the transaction, the senior vice president now directly owns 28,705 shares of the company’s stock, valued at approximately $2,117,567.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan G. Spoon acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $54.46 per share, with a total value of $1,089,200.00. Insiders have sold a total of 2,163 shares of company stock valued at $159,165 over the last three months. Insiders own 12.70% of the company’s stock.

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: Straddles

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.