Czech National Bank Has $5.63 Million Stock Position in Fortive Co. (NYSE:FTV)

Czech National Bank increased its position in Fortive Co. (NYSE:FTV) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,368 shares of the technology company’s stock after buying an additional 4,286 shares during the period. Czech National Bank’s holdings in Fortive were worth $5,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Indiana Trust & Investment Management CO bought a new stake in shares of Fortive during the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in Fortive during the second quarter worth $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive during the second quarter valued at about $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive during the first quarter worth about $32,000. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FTV shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price target on shares of Fortive in a research note on Friday, September 6th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Truist Financial raised their target price on Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $90.00 in a report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.36.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred 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 $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Fortive Trading Up 0.6 %

NYSE:FTV opened at $77.26 on Friday. The firm’s 50 day moving average is $73.23 and its 200 day moving average is $75.44. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The stock has a market capitalization of $27.20 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last issued its earnings results 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 return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio (DPR) 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.