Gilliland Jeter Wealth Management LLC Purchases Shares of 700 Fortive Co. (NYSE:FTV)

Gilliland Jeter Wealth Management LLC acquired a new position in shares of Fortive Co. (NYSE:FTV) in the third quarter, HoldingsChannel reports. The fund acquired 700 shares of the technology company’s stock, valued at approximately $60,000.

Several other large investors have also made changes to their positions in FTV. Boston Partners increased its stake in Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after acquiring an additional 1,999,792 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares during the period. Select Equity Group L.P. increased its holdings in Fortive by 6.8% in the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock valued at $195,721,000 after purchasing an additional 168,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Fortive by 3.8% in the second quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock valued at $190,099,000 after purchasing an additional 94,170 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’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 sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the subject of several analyst reports. Barclays upped their target price on Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley started coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.36.

Fortive Stock Up 0.3 %

Shares of Fortive stock opened at $77.47 on Monday. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The stock has a 50 day moving average price of $74.50 and a two-hundred day moving average price of $74.99. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $27.27 billion, a P/E ratio of 30.62, a PEG ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating 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 business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Equities analysts expect that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently disclosed 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 was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s dividend payout ratio is 12.65%.

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.