Fortive Corporation Target of Unusually Large Options Trading (FTV)

Fortive Corporation (NYSE:FTV) saw unusually large options trading on Friday. Traders purchased 2,409 put options on the stock. This represents an increase of Infinity compared to the typical daily volume of 0 put options.

In related news, SVP Stacey A. Walker sold 4,775 shares of Fortive Corporation stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James A. Lico sold 50,000 shares of Fortive Corporation stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total value of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares in the company, valued at $12,142,263.96. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in shares of Fortive Corporation by 3.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,206,402 shares of the technology company’s stock valued at $156,191,000 after buying an additional 80,482 shares during the period. Zeke Capital Advisors LLC purchased a new stake in shares of Fortive Corporation during the 3rd quarter valued at approximately $236,000. Amalgamated Bank raised its position in shares of Fortive Corporation by 2.0% during the 3rd quarter. Amalgamated Bank now owns 36,808 shares of the technology company’s stock valued at $2,606,000 after buying an additional 719 shares during the period. Cadence Capital Management LLC purchased a new stake in shares of Fortive Corporation during the 3rd quarter valued at approximately $588,000. Finally, Dai Ichi Life Insurance Company Ltd raised its position in shares of Fortive Corporation by 3.7% during the 3rd quarter. Dai Ichi Life Insurance Company Ltd now owns 32,530 shares of the technology company’s stock valued at $2,303,000 after buying an additional 1,166 shares during the period. 79.02% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Corporation (FTV) opened at $72.65 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06. Fortive Corporation has a 12 month low of $52.99 and a 12 month high of $74.38. The firm has a market cap of $25,250.16, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37.

Fortive Corporation (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $0.65 EPS. The business’s revenue was up 7.4% on a year-over-year basis. sell-side analysts predict that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio (DPR) is 10.57%.

Several research firms recently issued reports on FTV. Zacks Investment Research upgraded Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday, July 24th. Citigroup Inc. lifted their price objective on Fortive Corporation from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Stifel Nicolaus lifted their price objective on Fortive Corporation from $62.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $72.00 price objective (up from $71.00) on shares of Fortive Corporation in a report on Monday, October 2nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price objective (up from $65.00) on shares of Fortive Corporation in a report on Sunday, July 30th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $69.10.

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About Fortive Corporation

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

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