Cubist Systematic Strategies LLC Has $1.52 Million Position in Fortive Co. (NYSE:FTV)

Cubist Systematic Strategies LLC lessened its holdings in Fortive Co. (NYSE:FTV) by 79.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,474 shares of the technology company’s stock after selling 80,592 shares during the period. Cubist Systematic Strategies LLC’s holdings in Fortive were worth $1,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Indiana Trust & Investment Management CO acquired a new stake in shares of Fortive in the 1st quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive in the 2nd quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive in the 2nd quarter valued at $30,000. Advisors Asset Management Inc. acquired a new stake in shares of Fortive in the 1st quarter valued at $32,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Fortive in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other 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 transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Fortive Stock Down 1.7 %

Shares of FTV opened at $77.60 on Wednesday. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The stock has a market cap of $27.32 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.22 and a beta of 1.11. The company has a 50-day moving average price of $72.52 and a two-hundred day moving average price of $75.74. 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 results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. Fortive’s quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio is currently 12.65%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FTV shares. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Morgan Stanley started coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price on the stock. Barclays lifted their target price on shares of Fortive from $94.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.38.

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.