Ashton Thomas Private Wealth LLC Makes New $35,000 Investment in Fortive Co. (NYSE:FTV)

Ashton Thomas Private Wealth LLC purchased a new position in Fortive Co. (NYSE:FTV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 475 shares of the technology company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after acquiring an additional 369,351 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Fortive by 104.3% in the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after purchasing an additional 188,415 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Fortive by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock worth $42,496,000 after purchasing an additional 13,251 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after purchasing an additional 45,032 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock worth $23,719,000 after purchasing an additional 17,225 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of several analyst reports. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Truist Financial decreased their price target on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Barclays increased their price target on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.23.

Insider Transactions at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $73.72 on Tuesday. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The business has a fifty day moving average price of $72.28 and a 200-day moving average price of $76.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The firm has a market capitalization of $25.95 billion, a P/E ratio of 29.14, a PEG ratio of 2.11 and a beta of 1.11.

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

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is currently 12.65%.

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.