Redwood Investments LLC Invests $186,000 in Fortive Co. (NYSE:FTV)

Redwood Investments LLC acquired a new stake in shares of Fortive Co. (NYSE:FTV) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,479 shares of the technology company’s stock, valued at approximately $186,000.

A number of other institutional investors have also made changes to their positions in FTV. Parvin Asset Management LLC bought a new stake in Fortive in the fourth quarter valued at about $26,000. Whipplewood Advisors LLC acquired a new stake in Fortive during the fourth quarter valued at approximately $31,000. Crews Bank & Trust bought a new stake in shares of Fortive in the 4th quarter valued at approximately $37,000. Quarry LP grew its stake in shares of Fortive by 229.6% in the 4th quarter. Quarry LP now owns 501 shares of the technology company’s stock valued at $38,000 after purchasing an additional 349 shares during the period. Finally, Albion Financial Group UT acquired a new position in shares of Fortive in the 4th quarter worth approximately $38,000. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the sale, the senior vice president now directly owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,712 shares of company stock valued at $20,567,008 in the last 90 days. 1.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. BNP Paribas cut Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price objective for the company. in a report on Wednesday, April 9th. Robert W. Baird lowered their target price on shares of Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada increased their target price on shares of Fortive from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fortive from $90.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.85.

Fortive Trading Down 1.0%

Shares of FTV opened at $72.90 on Thursday. The stock’s fifty day simple moving average is $69.84 and its 200-day simple moving average is $74.88. The firm has a market capitalization of $24.78 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company earned $0.83 EPS. Fortive’s revenue was down 3.3% on a year-over-year basis. As a group, research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced 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 currently 14.04%.

Fortive 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.