Fortive Co. (NYSE:FTV) SVP Peter C. Underwood Sells 5,000 Shares

Fortive Co. (NYSE:FTV) SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Fortive Trading Up 1.5 %

Shares of Fortive stock traded up $1.14 during mid-day trading on Wednesday, hitting $76.19. The stock had a trading volume of 2,662,779 shares, compared to its average volume of 1,964,311. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market cap of $26.43 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13. The firm has a 50-day moving average of $75.30 and a two-hundred day moving average of $74.17. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business earned $0.85 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts forecast that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio is presently 12.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FTV shares. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, September 5th. Barclays cut 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. Truist Financial cut their target price on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.82.

Institutional Trading of Fortive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Fortive during the third quarter worth about $25,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive in the second quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in Fortive during the 2nd quarter valued at $30,000. Goodman Advisory Group LLC acquired a new stake in Fortive during the 2nd quarter valued at $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in Fortive during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.