Atomi Financial Group Inc. Has $389,000 Stock Position in Fortive Co. (NYSE:FTV)

Atomi Financial Group Inc. lifted its stake in Fortive Co. (NYSE:FTV) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,932 shares of the technology company’s stock after acquiring an additional 226 shares during the quarter. Atomi Financial Group Inc.’s holdings in Fortive were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lipe & Dalton increased its position in shares of Fortive by 1.9% in the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after acquiring an additional 130 shares during the last quarter. RDA Financial Network increased its position in shares of Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after acquiring an additional 138 shares during the last quarter. Pitcairn Co. increased its position in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after acquiring an additional 139 shares during the last quarter. QRG Capital Management Inc. increased its position in Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after buying an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC increased its position in Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FTV. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Wells Fargo & Company boosted their price target on Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Morgan Stanley began coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.36.

Fortive Trading Up 1.0 %

Shares of FTV stock opened at $78.01 on Friday. The company has a 50 day moving average of $73.36 and a 200-day moving average of $75.45. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. 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 $27.33 billion, a P/E ratio of 31.33, 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 (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.85 EPS. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio is 12.85%.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive 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. 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, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on 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 directly owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

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.