Brighton Jones LLC Has $294,000 Stake in Fortive Co. (NYSE:FTV)

Brighton Jones LLC lifted its stake in shares of Fortive Co. (NYSE:FTV) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,967 shares of the technology company’s stock after buying an additional 247 shares during the quarter. Brighton Jones LLC’s holdings in Fortive were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FTV. Intech Investment Management LLC grew its position in Fortive by 59.5% in the 2nd quarter. Intech Investment Management LLC now owns 36,706 shares of the technology company’s stock valued at $2,720,000 after purchasing an additional 13,699 shares during the period. Seven Eight Capital LP purchased a new position in Fortive during the 2nd quarter worth $1,830,000. Hsbc Holdings PLC boosted its holdings in Fortive by 3.4% during the 2nd quarter. Hsbc Holdings PLC now owns 1,044,293 shares of the technology company’s stock worth $77,379,000 after acquiring an additional 33,904 shares during the last quarter. Beck Bode LLC purchased a new position in Fortive during the 2nd quarter worth $587,000. Finally, O Brien Greene & Co. Inc boosted its holdings in Fortive by 5.6% during the 2nd quarter. O Brien Greene & Co. Inc now owns 80,430 shares of the technology company’s stock worth $5,960,000 after acquiring an additional 4,236 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 1.2 %

Shares of NYSE FTV opened at $76.34 on Monday. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. 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 firm has a market capitalization of $26.87 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 2.11 and a beta of 1.11. The business has a 50-day moving average of $72.43 and a 200-day moving average of $76.12.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS 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 analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Fortive’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts expect that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio is currently 12.65%.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 owns 68,161 shares in the company, valued at $5,030,281.80. The sale 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 owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on FTV. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 target price on shares of Fortive in a research note on Friday, September 6th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. TD Cowen upgraded 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 research note on Monday, July 8th. Wells Fargo & Company lowered their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Barclays lifted their target price on Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Fortive currently has an average rating of “Moderate Buy” and an average target price of $86.23.

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.