Clearstead Trust LLC Has $96,000 Stock Holdings in Fortive Co. (NYSE:FTV)

Clearstead Trust LLC lifted its stake in Fortive Co. (NYSE:FTV) by 77.7% during the second quarter, HoldingsChannel reports. The fund owned 1,299 shares of the technology company’s stock after purchasing an additional 568 shares during the quarter. Clearstead Trust LLC’s holdings in Fortive were worth $96,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Indiana Trust & Investment Management CO bought a new stake in Fortive in the first quarter worth $26,000. Ridgewood Investments LLC bought a new stake in Fortive in the second quarter worth $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the second quarter worth $30,000. Advisors Asset Management Inc. bought a new stake in Fortive in the first quarter worth $32,000. Finally, J.Safra Asset Management Corp bought a new stake in Fortive in the second quarter worth $34,000. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTV. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Morgan Stanley started coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on shares of Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.23.

Fortive Stock Up 0.2 %

NYSE FTV opened at $73.72 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The firm has a 50-day simple moving average of $72.28 and a 200 day simple moving average of $76.36. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The stock has a market cap of $25.95 billion, a PE ratio of 29.14, a PEG ratio of 2.11 and a beta of 1.11.

Fortive (NYSE:FTV) last posted 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 firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Buying and Selling

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s 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 $5,030,281.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

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.