Kestra Private Wealth Services LLC Buys 918 Shares of Fortive Co. (NYSE:FTV)

Kestra Private Wealth Services LLC increased its stake in shares of Fortive Co. (NYSE:FTV) by 19.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,609 shares of the technology company’s stock after buying an additional 918 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Fortive were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. OFI Invest Asset Management bought a new position in Fortive in the 3rd quarter valued at $25,000. Cornerstone Planning Group LLC bought a new stake in shares of Fortive during the third quarter worth $28,000. Cetera Trust Company N.A bought a new stake in shares of Fortive during the fourth quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in shares of Fortive during the third quarter worth $30,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Fortive during the fourth quarter worth $38,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.0 %

FTV stock opened at $77.01 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The stock has a market capitalization of $27.11 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.22 and a beta of 1.15. The business has a 50-day moving average of $82.58 and a 200-day moving average of $76.27. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, sell-side analysts anticipate that Fortive Co. will post 3.81 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s payout ratio is presently 12.65%.

Analysts Set New Price Targets

FTV has been the subject of a number of analyst reports. Barclays lifted their price objective on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada decreased their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company decreased their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.46.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the sale, the chief accounting officer now owns 20,564 shares in the company, valued at $1,689,743.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s 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 completion of the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,937 shares of company stock worth $5,475,122. Corporate insiders own 0.95% of the company’s stock.

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.