Raymond James Trust N.A. Has $821,000 Holdings in Fortive Co. (NYSE:FTV)

Raymond James Trust N.A. increased its holdings in Fortive Co. (NYSE:FTV) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,404 shares of the technology company’s stock after acquiring an additional 468 shares during the period. Raymond James Trust N.A.’s holdings in Fortive were worth $821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in Fortive by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock worth $155,081,000 after purchasing an additional 24,539 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Fortive by 29.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,003,275 shares of the technology company’s stock worth $79,189,000 after purchasing an additional 230,928 shares in the last quarter. King Luther Capital Management Corp grew its position in Fortive by 5.3% in the 3rd quarter. King Luther Capital Management Corp now owns 569,944 shares of the technology company’s stock worth $44,986,000 after purchasing an additional 28,514 shares in the last quarter. First Horizon Advisors Inc. grew its position in Fortive by 349.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,974 shares of the technology company’s stock worth $393,000 after purchasing an additional 3,867 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Fortive in the 3rd quarter worth about $5,145,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $78.42 on Monday. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $27.21 billion, a P/E ratio of 31.24, a PEG ratio of 2.11 and a beta of 1.13. The firm’s 50 day moving average is $75.85 and its 200 day moving average is $74.14.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.55 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced 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. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is presently 12.75%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTV. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Wells Fargo & Company reduced their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. UBS Group began coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, Raymond James raised shares of 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. Six 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Insiders Place Their Bets

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction 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. This trade represents a 17.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock worth $14,261,051 in the last three months. 1.01% of the stock is currently owned by corporate insiders.

Fortive Company Profile

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.