Fortive Co. (NYSE:FTV) CFO Charles E. Mclaughlin Sells 6,864 Shares

Fortive Co. (NYSE:FTV) CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Fortive Trading Up 0.2 %

NYSE:FTV opened at $73.72 on Tuesday. The firm has a 50-day simple moving average of $72.28 and a 200-day simple moving average of $76.36. 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 firm has a market cap of $25.95 billion, a P/E ratio of 29.14, a P/E/G ratio of 2.11 and a beta of 1.11.

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

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is 12.65%.

Institutional Investors Weigh In On Fortive

Hedge funds have recently modified their holdings of the company. Private Advisor Group LLC purchased a new position in Fortive during the fourth quarter worth about $283,000. Janney Montgomery Scott LLC grew its holdings in shares of Fortive by 9.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,060 shares of the technology company’s stock worth $1,109,000 after acquiring an additional 1,357 shares during the period. Quadrant Capital Group LLC grew its holdings in Fortive by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,724 shares of the technology company’s stock valued at $201,000 after buying an additional 126 shares during the last quarter. Level Four Advisory Services LLC boosted its holdings in shares of Fortive by 2.4% during the fourth quarter. Level Four Advisory Services LLC now owns 22,443 shares of the technology company’s stock worth $1,653,000 after purchasing an additional 529 shares during the last quarter. Finally, ING Groep NV raised its position in shares of Fortive by 24,700.0% in the 4th quarter. ING Groep NV now owns 48,112 shares of the technology company’s stock worth $3,542,000 after buying an additional 47,918 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTV. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, September 5th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday. Barclays increased their price objective on shares of Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. Finally, Morgan Stanley began coverage on shares of Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.23.

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.