Headinvest LLC Purchases 1,290 Shares of Fortive Co. (NYSE:FTV)

Headinvest LLC increased its position in shares of Fortive Co. (NYSE:FTV) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,467 shares of the technology company’s stock after buying an additional 1,290 shares during the quarter. Headinvest LLC’s holdings in Fortive were worth $2,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after purchasing an additional 51,690 shares in the last quarter. Atomi Financial Group Inc. raised its position in Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares in the last quarter. Addenda Capital Inc. lifted its stake in Fortive by 8.8% in the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock valued at $7,298,000 after acquiring an additional 7,936 shares during the last quarter. Blue Trust Inc. lifted its stake in Fortive by 111.3% in the second quarter. Blue Trust Inc. now owns 541 shares of the technology company’s stock valued at $40,000 after acquiring an additional 285 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Fortive in the 2nd quarter valued at about $749,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and upped their target price for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Barclays dropped their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group began coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. Finally, Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Fortive Trading Down 0.3 %

NYSE:FTV opened at $78.89 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a market cap of $27.37 billion, a PE ratio of 31.43, a PEG ratio of 2.16 and a beta of 1.14. The firm has a 50-day moving average of $76.37 and a 200-day moving average of $74.30.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities research analysts expect that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is owned by insiders.

About Fortive

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.