International Assets Investment Management LLC Takes Position in Fortive Co. (NYSE:FTV)

International Assets Investment Management LLC acquired a new stake in Fortive Co. (NYSE:FTV) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,118 shares of the technology company’s stock, valued at approximately $2,218,000.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Fortive during the third quarter worth $25,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Fortive during the second quarter worth $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Fortive during the third quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Fortive during the third quarter worth $30,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Fortive during the fourth quarter worth $38,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other news, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now owns 55,017 shares in the company, valued at approximately $4,676,445. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now owns 55,017 shares in the company, valued at approximately $4,676,445. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,937 shares of company stock worth $5,475,122. 0.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FTV. Barclays boosted their target price on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Mizuho upped their price target on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Wells Fargo & Company upped their price target on Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Finally, Citigroup upped their price target on Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.54.

Fortive Stock Performance

Shares of NYSE FTV opened at $79.49 on Friday. The business’s 50-day moving average price is $84.41 and its two-hundred day moving average price is $76.02. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. Fortive Co. has a one year low of $62.70 and a one year high of $87.10. The company has a market capitalization of $27.93 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 2.45 and a beta of 1.13.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Analysts anticipate that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 13.11%.

About Fortive

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.