Fortive Co. (NYSE:FTV) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Fortive Co. (NYSE:FTV) by 65.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,683 shares of the technology company’s stock after purchasing an additional 663 shares during the quarter. GAMMA Investing LLC’s holdings in Fortive were worth $133,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FTV. Indiana Trust & Investment Management CO purchased a new position in Fortive in the first quarter valued at about $26,000. Advisors Asset Management Inc. acquired a new position in Fortive during the first quarter worth $32,000. Ridgewood Investments LLC purchased a new stake in Fortive during the second quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in Fortive in the second quarter valued at $30,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Fortive in the second quarter valued at $31,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 1.0 %

NYSE FTV opened at $78.02 on Friday. The company has a 50-day moving average of $73.55 and a 200-day moving average of $75.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The company has a market cap of $27.47 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $0.85 earnings per share. Fortive’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts predict that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid 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 0.41%. Fortive’s dividend payout ratio is presently 12.65%.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the 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 completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’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 completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Barclays upped their target price on Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Truist Financial raised their price target on Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.36.

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.