Fortive Co. (NYSE:FTV) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its holdings in shares of Fortive Co. (NYSE:FTV) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,044,293 shares of the technology company’s stock after purchasing an additional 33,904 shares during the period. Hsbc Holdings PLC owned approximately 0.30% of Fortive worth $77,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO acquired a new stake in Fortive during the 1st quarter worth about $26,000. Advisors Asset Management Inc. acquired a new stake in Fortive during the first quarter worth about $32,000. Ridgewood Investments LLC purchased a new position in Fortive during the second quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new position in Fortive in the second quarter valued at approximately $30,000. Finally, J.Safra Asset Management Corp purchased a new stake in Fortive in the 2nd quarter worth approximately $34,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Fortive Trading Up 2.1 %

Shares of FTV opened at $77.29 on Friday. The firm’s fifty day moving average is $72.41 and its two-hundred day moving average is $76.29. The stock has a market cap of $27.21 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. 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 52-week low of $63.05 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Fortive’s revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s payout ratio is 12.65%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FTV. Wells Fargo & Company cut their target price on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Morgan Stanley began coverage on shares of Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Truist Financial dropped their target price on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Finally, Barclays raised their price objective on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average price target of $86.23.

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.