Financial Gravity Companies Inc. acquired a new stake in shares of Fortive Corp (NYSE:FTV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 829 shares of the technology company’s stock, valued at approximately $62,000.
Several other large investors also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC raised its holdings in shares of Fortive by 837.8% during the fourth quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock valued at $25,000 after acquiring an additional 310 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in shares of Fortive by 104.6% during the third quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock valued at $26,000 after acquiring an additional 158 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new position in shares of Fortive during the fourth quarter valued at approximately $50,000. Private Capital Group LLC raised its holdings in shares of Fortive by 22.1% during the fourth quarter. Private Capital Group LLC now owns 1,303 shares of the technology company’s stock valued at $88,000 after acquiring an additional 236 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of Fortive during the third quarter valued at approximately $108,000. 81.42% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Stacey A. Walker sold 468 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $75.26, for a total transaction of $35,221.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jonathan L. Schwarz sold 8,869 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $74.70, for a total value of $662,514.30. Following the transaction, the vice president now owns 7,270 shares of the company’s stock, valued at $543,069. The disclosure for this sale can be found here. Insiders have sold 9,813 shares of company stock valued at $732,570 over the last 90 days. Corporate insiders own 12.20% of the company’s stock.
FTV opened at $77.16 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $25.66 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.95 and a beta of 1.11. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $88.34.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, February 7th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.77 billion. Fortive had a return on equity of 22.42% and a net margin of 40.50%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, equities analysts predict that Fortive Corp will post 3.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 22nd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $0.28 dividend on an annualized basis and a yield of 0.36%. Fortive’s dividend payout ratio (DPR) is 9.15%.
A number of brokerages recently commented on FTV. Zacks Investment Research upgraded Fortive from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a report on Wednesday, January 30th. Morgan Stanley decreased their target price on Fortive from $90.00 to $84.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Royal Bank of Canada restated a “hold” rating and set a $74.00 target price on shares of Fortive in a report on Wednesday, November 21st. Finally, Credit Suisse Group decreased their target price on Fortive from $89.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $85.82.
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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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