Canandaigua National Bank & Trust Co. Reduces Position in Fortive Corp (FTV)

Canandaigua National Bank & Trust Co. trimmed its holdings in shares of Fortive Corp (NYSE:FTV) by 34.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,743 shares of the technology company’s stock after selling 3,000 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Fortive were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Calton & Associates Inc. bought a new stake in Fortive during the 4th quarter worth approximately $107,000. Signaturefd LLC bought a new position in shares of Fortive in the 1st quarter worth $114,000. Tower Research Capital LLC TRC bought a new position in shares of Fortive in the 4th quarter worth $184,000. Bedel Financial Consulting Inc. bought a new position in shares of Fortive in the 1st quarter worth $194,000. Finally, Buckingham Asset Management LLC bought a new position in shares of Fortive in the 4th quarter worth $203,000. 79.60% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider James A. Lico sold 75,000 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $71.93, for a total transaction of $5,394,750.00. Following the sale, the insider now owns 307,442 shares in the company, valued at approximately $22,114,303.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Emily A. Weaver sold 18,354 shares of Fortive stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $73.80, for a total transaction of $1,354,525.20. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by company insiders.

Shares of FTV traded up $2.04 on Thursday, reaching $80.13. The company’s stock had a trading volume of 2,549,400 shares, compared to its average volume of 1,619,789. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.11 and a quick ratio of 1.69. The firm has a market capitalization of $27.32 billion, a PE ratio of 27.73, a P/E/G ratio of 2.13 and a beta of 0.52. Fortive Corp has a twelve month low of $62.05 and a twelve month high of $80.45.

Fortive (NYSE:FTV) last released its earnings results on Thursday, April 26th. The technology company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. Fortive had a net margin of 16.12% and a return on equity of 29.86%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. analysts expect that Fortive Corp will post 3.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, May 25th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, May 24th. Fortive’s dividend payout ratio (DPR) is presently 9.69%.

Several analysts recently commented on FTV shares. TheStreet raised Fortive from a “c” rating to a “b-” rating in a research note on Monday. Zacks Investment Research raised Fortive from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Tuesday. ValuEngine upgraded Fortive from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. JPMorgan Chase & Co. downgraded shares of Fortive from an “overweight” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Friday, March 9th. Finally, Barclays started coverage on shares of Fortive in a research report on Thursday, February 15th. They issued an “overweight” rating and a $86.00 price target for the company. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Fortive has a consensus rating of “Buy” and a consensus target price of $80.89.

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 maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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