Fortive (NYSE:FTV) SVP Sells $3,129,353.20 in Stock

Fortive Corporation (NYSE:FTV) SVP Peter Underwood sold 48,442 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $64.60, for a total value of $3,129,353.20. Following the completion of the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $5,111,022.80. The trade was a 37.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Fortive Stock Up 2.4%

Shares of FTV opened at $68.42 on Thursday. The company has a market capitalization of $20.36 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.68 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.59. Fortive Corporation has a 12-month low of $49.99 and a 12-month high of $68.94. The business’s 50 day moving average is $58.21 and its 200 day moving average is $58.83.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Fortive had a return on equity of 15.79% and a net margin of 14.83%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Fortive Corporation will post 3.12 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Friday, November 27th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, November 27th. Fortive’s payout ratio is 13.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Fortive from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 29th. Evercore started coverage on Fortive in a report on Monday, September 28th. They set a “hold” rating and a $60.00 price objective for the company. Argus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Fortive in a research report on Wednesday, August 19th. Mizuho set a $55.00 target price on Fortive in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada lifted their target price on Fortive from $59.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $64.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FTV. Mather Group LLC. increased its holdings in Fortive by 86.8% during the third quarter. Mather Group LLC. now owns 467 shares of the technology company’s stock valued at $26,000 after buying an additional 217 shares during the period. Keating Financial Advisory Services Inc. bought a new position in Fortive in the second quarter worth approximately $30,000. Virtus Advisers LLC purchased a new stake in Fortive during the second quarter worth $30,000. Main Street Group LTD purchased a new stake in Fortive during the first quarter worth $31,000. Finally, Highland Investment Advisors LLC purchased a new stake in Fortive during the second quarter worth $39,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.