Fortive Co. (NYSE:FTV) SVP Jonathan L. Schwarz Sells 14,223 Shares

Fortive Co. (NYSE:FTV) SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated 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 of the company’s stock, valued at approximately $5,030,281.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Fortive Trading Up 0.2 %

FTV traded up $0.12 during trading hours on Monday, reaching $73.72. The company’s stock had a trading volume of 1,511,544 shares, compared to its average volume of 1,848,129. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The stock has a market cap of $25.83 billion, a PE ratio of 29.14, a P/E/G ratio of 2.11 and a beta of 1.11. The business’s 50-day moving average is $72.28 and its 200-day moving average is $76.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is 12.65%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial cut their price target on Fortive from $89.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley assumed coverage on Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective on the stock. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.23.

Institutional Trading of Fortive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners raised its position in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares during the period. Janus Henderson Group PLC raised its stake in shares of Fortive by 47.1% in the first 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. Capital World Investors raised its stake in shares of Fortive by 0.6% in the fourth quarter. Capital World Investors now owns 5,847,724 shares of the technology company’s stock valued at $430,568,000 after acquiring an additional 33,990 shares in the last quarter. Norges Bank purchased a new stake in Fortive during the 4th quarter worth about $268,686,000. Finally, Dimensional Fund Advisors LP raised its position in Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after purchasing an additional 205,893 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Fortive

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.