Caxton Associates LP Makes New Investment in Fortive Co. (NYSE:FTV)

Caxton Associates LP bought a new position in shares of Fortive Co. (NYSE:FTV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,271 shares of the technology company’s stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FTV. Squarepoint Ops LLC lifted its holdings in Fortive by 1,177.2% during the second quarter. Squarepoint Ops LLC now owns 121,479 shares of the technology company’s stock worth $9,002,000 after acquiring an additional 111,968 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Fortive by 60.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 67,296 shares of the technology company’s stock valued at $4,987,000 after purchasing an additional 25,337 shares during the last quarter. Mill Creek Capital Advisors LLC raised its stake in shares of Fortive by 4.7% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,641 shares of the technology company’s stock worth $270,000 after purchasing an additional 162 shares during the period. Magnetar Financial LLC boosted its holdings in shares of Fortive by 38.9% in the 2nd quarter. Magnetar Financial LLC now owns 61,826 shares of the technology company’s stock worth $4,581,000 after buying an additional 17,316 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in Fortive by 73.4% during the second quarter. Public Sector Pension Investment Board now owns 13,565 shares of the technology company’s stock valued at $1,005,000 after buying an additional 5,741 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.8 %

FTV stock opened at $79.18 on Friday. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The firm has a market capitalization of $27.87 billion, a PE ratio of 31.30, a PEG ratio of 2.22 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. The stock has a 50-day simple moving average of $72.39 and a two-hundred day simple moving average of $76.02.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 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 previous year, the company earned $0.85 earnings per share. Fortive’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts predict that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Analysts Set New Price Targets

Several brokerages have commented on FTV. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. Truist Financial dropped their price objective 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 started coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $90.00 in a research note 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.38.

Insider Activity at Fortive

In other Fortive 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 value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction 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 sale, 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.

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.