Wealth Enhancement Advisory Services LLC Has $2.64 Million Position in Fortive Co. (NYSE:FTV)

Wealth Enhancement Advisory Services LLC lessened its holdings in Fortive Co. (NYSE:FTV) by 16.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 33,474 shares of the technology company’s stock after selling 6,738 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Fortive were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Fortive in the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive in the 2nd quarter valued at approximately $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive in the 2nd quarter worth approximately $31,000. Advisors Asset Management Inc. bought a new position in shares of Fortive during the 1st quarter worth approximately $32,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was 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 corporate insiders.

Wall Street Analysts Forecast Growth

FTV has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Thursday, September 5th. Barclays cut their target price on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Four 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.20.

Fortive Stock Performance

FTV stock opened at $71.34 on Friday. The company has a 50 day moving average price of $75.27 and a 200 day moving average price of $74.48. Fortive Co. has a fifty-two week low of $64.69 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.95. The stock has a market capitalization of $24.99 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.09 and a beta of 1.12.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. Analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.