Goodman Advisory Group LLC Makes New $31,000 Investment in Fortive Co. (NYSE:FTV)

Goodman Advisory Group LLC bought a new stake in Fortive Co. (NYSE:FTV) during the 2nd quarter, HoldingsChannel reports. The fund bought 414 shares of the technology company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FTV. Boston Partners lifted its position in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after buying an additional 1,999,792 shares during the period. Capital World Investors boosted its stake in shares of Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after buying an additional 33,990 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Fortive by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after acquiring an additional 205,893 shares during the period. Finally, Select Equity Group L.P. raised its position in Fortive by 6.8% in the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after acquiring an additional 168,368 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Fortive Price Performance

NYSE:FTV opened at $79.18 on Friday. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The firm has a market cap of $27.87 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company’s 50-day moving average is $72.39 and its two-hundred day moving average is $76.02. 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 announced its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Research analysts expect that Fortive Co. will post 3.82 EPS for the current year.

Fortive Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. 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 research report on Monday, July 8th. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley initiated coverage on Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price objective on shares of Fortive 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.38.

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.