International Assets Investment Management LLC Buys 32,743 Shares of Fortive Co. (NYSE:FTV)

International Assets Investment Management LLC grew its stake in shares of Fortive Co. (NYSE:FTV) by 7,966.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,154 shares of the technology company’s stock after buying an additional 32,743 shares during the quarter. International Assets Investment Management LLC’s holdings in Fortive were worth $2,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Fortive by 70.1% during the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after buying an additional 369,351 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Fortive by 104.3% during the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after purchasing an additional 188,415 shares during the period. Raymond James & Associates lifted its holdings in shares of Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after purchasing an additional 51,690 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after purchasing an additional 226 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Fortive by 599.3% during the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after purchasing an additional 45,032 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated 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 $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Fortive 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 value 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 approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’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 directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. 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 currently owned by insiders.

Fortive Price Performance

Shares of NYSE FTV opened at $71.34 on Friday. The firm’s 50-day moving average price is $75.27 and its 200-day moving average price is $74.43. Fortive Co. has a 1-year low of $64.69 and a 1-year high of $87.10. The firm has a market capitalization of $24.75 billion, a P/E ratio of 28.42, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate 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 net margin of 14.35% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FTV shares. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Royal Bank of Canada cut their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and boosted their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Truist Financial dropped their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.20.

About Fortive

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.