Park Place Capital Corp Buys Shares of 1,000 Fortive Co. (NYSE:FTV)

Park Place Capital Corp bought a new position in shares of Fortive Co. (NYSE:FTV) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,000 shares of the technology company’s stock, valued at approximately $79,000.

Several other institutional investors also recently modified their holdings of the stock. Indiana Trust & Investment Management CO acquired a new stake in Fortive during the 1st quarter worth $26,000. Advisors Asset Management Inc. acquired a new stake in shares of Fortive in the 1st quarter valued at about $32,000. Ridgewood Investments LLC acquired a new position in shares of Fortive during the second quarter worth about $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive during the second quarter worth about $30,000. Finally, Goodman Advisory Group LLC acquired a new stake in Fortive in the 2nd quarter valued at approximately $31,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortive

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

Analysts Set New Price Targets

A number of research firms have weighed in on FTV. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price target on shares of Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 target price on shares of Fortive in a report on Friday, September 6th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.42.

Fortive Stock Performance

Shares of NYSE FTV opened at $76.80 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $27.04 billion, a P/E ratio of 30.36, a P/E/G ratio of 2.22 and a beta of 1.12. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The stock has a 50 day moving average of $73.13 and a 200-day moving average of $75.43.

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

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

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.