Catalyst Capital Advisors LLC Buys Shares of 724 Fortive Co. (NYSE:FTV)

Catalyst Capital Advisors LLC purchased a new stake in Fortive Co. (NYSE:FTV) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 724 shares of the technology company’s stock, valued at approximately $57,000.

Other hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake 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 buying an additional 1,999,792 shares in the last quarter. Boston Partners increased its holdings in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Fortive by 78.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock worth $63,221,000 after acquiring an additional 373,957 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Fortive by 1,053.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after purchasing an additional 349,530 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Fortive by 27.4% during the second quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock valued at $94,041,000 after purchasing an additional 273,168 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 4.1 %

Shares of NYSE:FTV opened at $74.29 on Thursday. The business has a 50-day moving average price of $75.20 and a 200-day moving average price of $74.27. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 1.95 and a beta of 1.13. Fortive Co. has a 52-week low of $64.69 and a 52-week high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the business posted $0.85 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio is currently 12.75%.

Insider Buying and Selling at Fortive

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 transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction 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 sale, the senior vice president now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,895 shares of company stock valued at $13,878,151. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on FTV. Truist Financial reduced their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $90.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Royal Bank of Canada reduced their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $88.20.

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.