Fortive Co. (NYSE:FTV) Shares Acquired by New Century Financial Group LLC

New Century Financial Group LLC increased its holdings in Fortive Co. (NYSE:FTV) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,066 shares of the technology company’s stock after buying an additional 372 shares during the quarter. New Century Financial Group LLC’s holdings in Fortive were worth $321,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FTV. HighPoint Advisor Group LLC bought a new stake in shares of Fortive during the fourth quarter valued at about $180,000. Los Angeles Capital Management LLC bought a new stake in shares of Fortive during the 1st quarter worth about $1,776,000. Mather Group LLC. acquired a new stake in shares of Fortive in the 1st quarter worth approximately $71,000. RFG Advisory LLC boosted its holdings in shares of Fortive by 4.0% in the first quarter. RFG Advisory LLC now owns 8,200 shares of the technology company’s stock valued at $705,000 after acquiring an additional 316 shares in the last quarter. Finally, Shorepath Capital Management LLC increased its stake in shares of Fortive by 4.2% during the first quarter. Shorepath Capital Management LLC now owns 65,511 shares of the technology company’s stock valued at $5,635,000 after acquiring an additional 2,662 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Truist Financial lifted their target price on Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.36.

Fortive Trading Up 0.3 %

NYSE FTV opened at $77.47 on Monday. The firm’s 50 day moving average price is $74.50 and its two-hundred day moving average price is $74.99. 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 twelve month low of $63.05 and a twelve month high of $87.10. The stock has a market cap of $27.27 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last issued 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. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. Fortive’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. Equities analysts anticipate that Fortive Co. will post 3.82 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were issued a dividend of $0.08 per share. 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 is currently 12.65%.

Insider Activity at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the 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 sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’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 completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by 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.