Raymond James & Associates Has $31.22 Million Holdings in Fortive Co. (NYSE:FTV)

Raymond James & Associates increased its stake in shares of Fortive Co. (NYSE:FTV) by 15.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 395,488 shares of the technology company’s stock after purchasing an additional 51,690 shares during the quarter. Raymond James & Associates owned about 0.11% of Fortive worth $31,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after buying an additional 1,999,792 shares during the period. Boston Partners increased its position in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Fortive by 78.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock worth $63,221,000 after purchasing an additional 373,957 shares during the last quarter. Nordea Investment Management AB lifted its position in 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 purchasing an additional 369,351 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in Fortive by 1,053.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock valued at $28,359,000 after acquiring an additional 349,530 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the subject of several analyst reports. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 target price on shares of Fortive in a research note on Friday, September 6th. Morgan Stanley assumed coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.36.

Fortive Stock Down 0.5 %

Shares of Fortive stock opened at $75.51 on Thursday. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The business’s 50 day simple moving average is $74.95 and its 200 day simple moving average is $74.89. The firm 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 data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, analysts predict that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm 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. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Transactions at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’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 transaction, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

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.