Investors Buy High Volume of Fortive Call Options (NYSE:FTV)

Fortive Corp (NYSE:FTV) saw some unusual options trading on Thursday. Traders acquired 3,203 call options on the company. This is an increase of approximately 2,156% compared to the typical volume of 142 call options.

In related news, SVP Stacey A. Walker sold 34,446 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.70, for a total transaction of $2,435,332.20. Following the completion of the transaction, the senior vice president now owns 20,015 shares of the company’s stock, valued at approximately $1,415,060.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in FTV. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Fortive by 8.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 841,471 shares of the technology company’s stock worth $70,591,000 after buying an additional 65,489 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Fortive by 5.1% in the 2nd quarter. DNB Asset Management AS now owns 62,629 shares of the technology company’s stock worth $5,106,000 after buying an additional 3,055 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of Fortive by 2.4% in the 2nd quarter. Douglas Lane & Associates LLC now owns 499,513 shares of the technology company’s stock worth $40,720,000 after buying an additional 11,617 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Fortive by 1.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 19,528 shares of the technology company’s stock worth $1,592,000 after buying an additional 226 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Fortive by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 137,522 shares of the technology company’s stock worth $11,211,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.

FTV has been the subject of a number of analyst reports. Zacks Investment Research raised Fortive from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a research report on Tuesday, October 1st. Berenberg Bank set a $86.00 target price on Fortive and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays reduced their target price on Fortive from $89.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Gordon Haskett lowered Fortive from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Bank of America reduced their target price on Fortive from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $79.25.

Fortive stock opened at $71.51 on Friday. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.78 and a beta of 1.21. The stock has a fifty day simple moving average of $68.43 and a two-hundred day simple moving average of $76.35. Fortive has a 12 month low of $62.89 and a 12 month high of $89.48. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 24th. The technology company reported $0.87 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.87. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.89 billion. Fortive had a return on equity of 18.43% and a net margin of 38.22%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, equities research analysts forecast that Fortive will post 3.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Thursday, August 29th. Fortive’s payout ratio is 9.15%.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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