Summit Trail Advisors LLC Raises Holdings in Fortive Co. (NYSE:FTV)

Summit Trail Advisors LLC boosted its stake in shares of Fortive Co. (NYSE:FTV) by 20.3% in the third quarter, Holdings Channel reports. The institutional investor owned 9,120 shares of the technology company’s stock after acquiring an additional 1,538 shares during the period. Summit Trail Advisors LLC’s holdings in Fortive were worth $720,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Fortive in the 3rd quarter worth $25,000. Ridgewood Investments LLC bought a new position in Fortive in the second quarter worth about $30,000. International Assets Investment Management LLC purchased a new stake in shares of Fortive during the second quarter valued at about $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive in the 2nd quarter valued at about $31,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Fortive in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays lowered their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company cut their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Trading Up 1.6 %

Shares of Fortive stock opened at $79.69 on Tuesday. The stock has a market cap of $27.65 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The firm has a fifty day moving average price of $75.97 and a 200 day moving average price of $74.16. 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 current ratio of 1.25 and a quick ratio of 0.99.

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

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock valued at $14,261,051 in the last 90 days. 1.01% of the stock is currently owned by company insiders.

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.