Fortive Co. (NYSE:FTV) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors raised its position in shares of Fortive Co. (NYSE:FTV) by 10.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,875 shares of the technology company’s stock after acquiring an additional 1,729 shares during the quarter. Captrust Financial Advisors’ holdings in Fortive were worth $1,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FTV. Dodge & Cox acquired a new position in shares of Fortive during the fourth quarter valued at approximately $583,493,000. Norges Bank acquired a new position in shares of Fortive during the fourth quarter valued at approximately $412,445,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Fortive by 164.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company’s stock valued at $654,763,000 after acquiring an additional 5,429,566 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Fortive by 9.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company’s stock valued at $3,221,036,000 after acquiring an additional 3,810,997 shares during the last quarter. Finally, Third Point LLC acquired a new position in shares of Fortive during the fourth quarter valued at approximately $142,500,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents a 21.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares in the company, valued at $42,509,043.38. The trade was a 27.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,712 shares of company stock valued at $20,567,008. Insiders own 1.01% of the company’s stock.

Fortive Stock Down 1.0%

Shares of NYSE FTV opened at $72.90 on Thursday. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32. The company has a market cap of $24.78 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $69.84 and a 200 day moving average price of $74.88.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. Research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Fortive’s payout ratio is 14.04%.

Analysts Set New Price Targets

FTV has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada increased their price target on Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Citigroup cut their price target on Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, BNP Paribas cut Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $80.85.

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.