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

King Luther Capital Management Corp boosted its holdings in Fortive Co. (NYSE:FTV) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 584,627 shares of the technology company’s stock after acquiring an additional 14,683 shares during the period. King Luther Capital Management Corp owned 0.17% of Fortive worth $43,847,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP acquired a new position in Fortive in the third quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new position in Fortive during the fourth quarter worth $31,000. Versant Capital Management Inc lifted its stake in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust acquired a new position in Fortive during the fourth quarter worth $37,000. Finally, Albion Financial Group UT acquired a new position in Fortive during the fourth quarter worth $38,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV stock opened at $74.91 on Tuesday. The stock’s 50-day moving average is $78.94 and its two-hundred day moving average is $76.85. The firm has a market cap of $25.49 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.68 and a beta of 1.16. 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 0.91 and a current ratio of 1.16.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the business earned $0.98 EPS. Analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 13.56%.

Wall Street Analyst Weigh In

A number of research firms have commented on FTV. UBS Group began coverage on Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Wells Fargo & Company upped their price objective on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.64.

Insider Transactions at Fortive

In other news, CEO James A. Lico sold 196,117 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares in the company, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company’s stock.

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.