Livingston Group Asset Management CO operating as Southport Capital Management Lowers Position in Fortive Corporation (FTV)

Livingston Group Asset Management CO operating as Southport Capital Management reduced its stake in Fortive Corporation (NYSE:FTV) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,559 shares of the technology company’s stock after selling 54 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Fortive Corporation were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Headinvest LLC raised its position in Fortive Corporation by 3.4% in the second quarter. Headinvest LLC now owns 39,606 shares of the technology company’s stock valued at $2,509,000 after buying an additional 1,311 shares during the period. Watch Point Trust Co raised its position in Fortive Corporation by 3.9% in the second quarter. Watch Point Trust Co now owns 5,800 shares of the technology company’s stock valued at $368,000 after buying an additional 216 shares during the period. Winslow Evans & Crocker Inc. raised its position in Fortive Corporation by 3.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,871 shares of the technology company’s stock valued at $245,000 after buying an additional 133 shares during the period. CENTRAL TRUST Co raised its position in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock valued at $147,000 after buying an additional 23 shares during the period. Finally, OLD National Bancorp IN raised its position in Fortive Corporation by 9.7% in the second quarter. OLD National Bancorp IN now owns 188,920 shares of the technology company’s stock valued at $11,968,000 after buying an additional 16,780 shares during the period. 79.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Fortive Corporation (NYSE FTV) traded up 3.02% during trading on Friday, reaching $64.47. 2,210,705 shares of the company’s stock were exchanged. The stock has a market cap of $22.34 billion and a PE ratio of 25.29. The stock’s 50 day moving average price is $63.70 and its 200-day moving average price is $60.42. Fortive Corporation has a 52-week low of $46.81 and a 52-week high of $65.21.

Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, July 27th. The technology company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.02. Fortive Corporation had a net margin of 14.02% and a return on equity of 34.27%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Fortive Corporation will post $2.76 EPS for the current year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, July 24th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fortive Corporation in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fortive Corporation in a report on Monday, May 22nd. Barclays PLC set a $66.00 price objective on shares of Fortive Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Finally, Cowen and Company raised their price objective on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Fortive Corporation currently has a consensus rating of “Buy” and an average target price of $60.64.

In related news, insider James A. Lico sold 131,994 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $62.34, for a total value of $8,228,505.96. Following the transaction, the insider now owns 191,101 shares in the company, valued at approximately $11,913,236.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Emily A. Weaver sold 3,749 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $62.27, for a total transaction of $233,450.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,385 shares of company stock worth $9,187,369. Company insiders own 12.10% of the company’s stock.

About Fortive Corporation

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.