Intech Investment Management LLC Has $2.72 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Intech Investment Management LLC grew its position in Fortive Co. (NYSE:FTV) by 59.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,706 shares of the technology company’s stock after acquiring an additional 13,699 shares during the period. Intech Investment Management LLC’s holdings in Fortive were worth $2,720,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FTV. Indiana Trust & Investment Management CO bought a new position in Fortive in the 1st quarter valued at about $26,000. Advisors Asset Management Inc. bought a new position in shares of Fortive in the 1st quarter valued at $32,000. Ridgewood Investments LLC bought a new position in Fortive in the second quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in Fortive during the 2nd quarter worth approximately $30,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Fortive during the second quarter worth $34,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $76.34 on Monday. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The firm’s 50-day simple moving average is $72.43 and its two-hundred day simple moving average is $76.12. The firm has a market cap of $26.87 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FTV shares. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Barclays raised their price target on shares of Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. Finally, Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.23.

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.