Brighton Jones LLC Acquires 247 Shares of Fortive Co. (NYSE:FTV)

Brighton Jones LLC lifted its holdings in shares of Fortive Co. (NYSE:FTV) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,967 shares of the technology company’s stock after acquiring an additional 247 shares during the quarter. Brighton Jones LLC’s holdings in Fortive were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares in the last quarter. Boston Partners grew its stake in shares of Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of Fortive in the fourth quarter worth $45,557,000. Nordea Investment Management AB grew its stake in shares of 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 during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Fortive by 27.4% in the second quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock worth $94,041,000 after acquiring an additional 273,168 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated 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 sale, 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 SEC, which can be accessed through this hyperlink. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’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 value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Truist Financial cut their target price on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective on the stock. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $86.23.

Fortive Trading Down 1.2 %

Fortive stock opened at $76.34 on Monday. The stock has a 50-day moving average of $72.43 and a two-hundred day moving average of $76.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The stock has a market cap of $26.87 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Fortive (NYSE:FTV) last announced its quarterly earnings data 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. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. On average, research analysts anticipate that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is 12.65%.

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.