Fortive Co. (NYSE:FTV) Shares Acquired by Guinness Asset Management LTD

Guinness Asset Management LTD raised its holdings in shares of Fortive Co. (NYSE:FTV) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,041 shares of the technology company’s stock after buying an additional 225 shares during the period. Guinness Asset Management LTD’s holdings in Fortive were worth $528,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Fortive during the third quarter valued at $25,000. Goodman Advisory Group LLC acquired a new position in Fortive in the 2nd quarter worth approximately $31,000. Pinnacle Bancorp Inc. grew its position in Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares in the last quarter. Versant Capital Management Inc raised its stake in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Fortive in the third quarter valued at $41,000. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FTV. Wells Fargo & Company lifted their price target on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. UBS Group assumed coverage on shares of Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Barclays decreased their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average target price of $86.45.

Fortive Price Performance

Shares of NYSE:FTV opened at $79.00 on Monday. The stock has a market capitalization of $27.41 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.92 and a beta of 1.14. The business has a 50-day moving average of $76.68 and a two-hundred day moving average of $74.82. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. 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 (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, November 29th. Fortive’s dividend payout ratio is 12.75%.

Fortive 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.