Choreo LLC Invests $410,000 in Fortive Co. (NYSE:FTV)

Choreo LLC acquired a new position in shares of Fortive Co. (NYSE:FTV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,657 shares of the technology company’s stock, valued at approximately $410,000.

Several other large investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its position in shares of Fortive by 4.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock worth $201,000 after acquiring an additional 126 shares in the last quarter. Lipe & Dalton increased its position in shares of Fortive by 1.9% during the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after acquiring an additional 130 shares in the last quarter. RDA Financial Network increased its position in shares of Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after acquiring an additional 138 shares in the last quarter. Pitcairn Co. boosted its holdings in Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after purchasing an additional 139 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FTV shares. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Thursday, September 5th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $77.00 target price on shares of Fortive in a report on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.23.

Insider Buying and Selling at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Fortive Trading Up 0.2 %

Shares of FTV stock opened at $73.72 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The firm has a 50 day moving average price of $72.28 and a two-hundred day moving average price of $76.36. The company has a market capitalization of $25.95 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

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

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio is currently 12.65%.

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.