Fortive Co. (NYSE:FTV) Shares Acquired by Axiom Advisory LLC

Axiom Advisory LLC lifted its position in Fortive Co. (NYSE:FTV) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,048 shares of the technology company’s stock after purchasing an additional 157 shares during the quarter. Axiom Advisory LLC’s holdings in Fortive were worth $734,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Indiana Trust & Investment Management CO acquired a new position in Fortive in the first quarter valued at $26,000. Advisors Asset Management Inc. purchased a new position in shares of Fortive during the first quarter worth about $32,000. Ridgewood Investments LLC acquired a new position in Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC purchased a new stake in Fortive during the 2nd quarter valued at approximately $30,000. Finally, Goodman Advisory Group LLC acquired a new stake in Fortive during the 2nd quarter worth approximately $31,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent research reports. Truist Financial dropped their target price on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. Barclays lifted their target price on shares of Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Wells Fargo & Company raised their price objective on shares of Fortive from $75.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.75.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. 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, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

NYSE FTV opened at $76.44 on Wednesday. The business has a 50 day moving average price of $73.02 and a 200 day moving average price of $75.49. The company has a market capitalization of $26.91 billion, a P/E ratio of 30.21, a PEG ratio of 2.22 and a beta of 1.12. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. 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 (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts expect that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared 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. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, September 13th. Fortive’s payout ratio is 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.