Fortive Co. (NYSE:FTV) SVP Sells $1,049,657.40 in Stock

Fortive Co. (NYSE:FTV) SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Fortive Trading Up 1.3 %

Shares of FTV stock opened at $75.71 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a market cap of $26.65 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The business has a 50-day moving average price of $72.36 and a two-hundred day moving average price of $76.28. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities analysts anticipate that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s payout ratio is presently 12.65%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FTV shares. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Truist Financial lowered their price target on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Wells Fargo & Company reduced their price objective on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.23.

Institutional Trading of Fortive

Several hedge funds have recently added to or reduced their stakes in FTV. Private Advisor Group LLC purchased a new stake in Fortive during the 4th quarter valued at about $283,000. Janney Montgomery Scott LLC lifted its position in Fortive by 9.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,060 shares of the technology company’s stock valued at $1,109,000 after purchasing an additional 1,357 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Fortive by 4.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after purchasing an additional 126 shares during the last quarter. Level Four Advisory Services LLC increased its stake in shares of Fortive by 2.4% in the fourth quarter. Level Four Advisory Services LLC now owns 22,443 shares of the technology company’s stock worth $1,653,000 after buying an additional 529 shares during the period. Finally, ING Groep NV raised its holdings in Fortive by 24,700.0% during the 4th quarter. ING Groep NV now owns 48,112 shares of the technology company’s stock valued at $3,542,000 after buying an additional 47,918 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

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.