Fortive Co. (NYSE:FTV) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp raised its position in shares of Fortive Co. (NYSE:FTV) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 569,944 shares of the technology company’s stock after acquiring an additional 28,514 shares during the quarter. King Luther Capital Management Corp’s holdings in Fortive were worth $44,986,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Fortive in the third quarter worth approximately $25,000. Ridgewood Investments LLC acquired a new stake in Fortive in the second quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the second quarter worth about $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the first quarter worth about $32,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Barclays lowered 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, October 31st. 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 decreased their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Finally, Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average price target of $87.82.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Performance

Shares of NYSE FTV opened at $75.75 on Thursday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a fifty day moving average price of $75.69 and a two-hundred day moving average price of $74.15. The firm has a market cap of $26.28 billion, a P/E ratio of 30.18, a PEG ratio of 2.05 and a beta of 1.13.

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

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, November 29th. 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.