Sanctuary Advisors LLC Invests $985,000 in Fortive Co. (NYSE:FTV)

Sanctuary Advisors LLC purchased a new position in shares of Fortive Co. (NYSE:FTV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,970 shares of the technology company’s stock, valued at approximately $985,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Lipe & Dalton lifted its stake in shares of Fortive by 1.9% in the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after acquiring an additional 130 shares during the period. RDA Financial Network lifted its position in Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after purchasing an additional 138 shares during the period. Pitcairn Co. boosted its holdings in Fortive by 1.3% in the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after purchasing an additional 139 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Fortive by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 146 shares in the last quarter. Finally, Andina Capital Management LLC increased its position in Fortive by 3.4% during the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after purchasing an additional 147 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Trading Up 1.0 %

Shares of FTV opened at $78.01 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. The firm has a 50 day simple moving average of $73.36 and a 200-day simple moving average of $75.45.

Fortive (NYSE:FTV) last released 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 last year, the business posted $0.85 earnings per share. Fortive’s revenue was up 1.7% compared to the same quarter last year. Equities analysts forecast that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is 12.85%.

Analysts Set New Price Targets

FTV has been the topic of a number of analyst reports. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Barclays boosted their target price on shares of Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price target on shares of Fortive in a report on Friday, September 6th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Morgan Stanley started coverage on shares of Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and an average target price of $87.36.

Insiders Place Their Bets

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

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.