Exchange Traded Concepts LLC Purchases Shares of 514 Fortive Co. (NYSE:FTV)

Exchange Traded Concepts LLC bought a new stake in Fortive Co. (NYSE:FTV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 514 shares of the technology company’s stock, valued at approximately $41,000.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on FTV shares. Morgan Stanley began coverage on shares of Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. TD Cowen raised 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 report on Monday, July 8th. Finally, Wells Fargo & Company increased their price target on Fortive from $75.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.36.

Insiders Place Their Bets

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s 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 transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. 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 the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s 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 transaction, the senior vice president now owns 68,161 shares in the company, 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 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 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 directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Fortive Price Performance

Shares of NYSE:FTV opened at $75.51 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $74.95 and a 200 day simple moving average of $74.89. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a market cap of $26.58 billion, a PE ratio of 29.85, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.57 billion. During the same period in the prior year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid 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 currently 12.65%.

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.