Delap Wealth Advisory LLC Grows Stock Position in Fortive Co. (NYSE:FTV)

Delap Wealth Advisory LLC raised its stake in shares of Fortive Co. (NYSE:FTV) by 7.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,936 shares of the technology company’s stock after buying an additional 210 shares during the period. Delap Wealth Advisory LLC’s holdings in Fortive were worth $218,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Fortive by 70.1% during the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after buying an additional 369,351 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Fortive by 104.3% during the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after acquiring an additional 188,415 shares during the period. California State Teachers Retirement System grew its position in shares of Fortive by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 577,159 shares of the technology company’s stock valued at $42,496,000 after acquiring an additional 13,251 shares during the period. Cetera Investment Advisers grew its position in shares of Fortive by 599.3% during the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after acquiring an additional 45,032 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Fortive by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after acquiring an additional 17,225 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Wells Fargo & Company dropped their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Barclays raised their target price on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $86.23.

Fortive Stock Down 1.2 %

Shares of NYSE:FTV opened at $76.34 on Friday. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The stock has a market cap of $26.87 billion, a P/E ratio of 30.17, a PEG ratio of 2.11 and a beta of 1.11. The business has a fifty day moving average of $72.43 and a two-hundred day moving average of $76.18. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

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

Fortive Announces Dividend

The company 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, September 13th. Fortive’s payout ratio is presently 12.65%.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction 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 approximately $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s 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 in the company, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company 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.