Fortive Co. (NYSE:FTV) CFO Sells $900,396.64 in Stock

Fortive Co. (NYSE:FTVGet Rating) CFO Charles E. Mclaughlin sold 13,156 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $68.44, for a total transaction of $900,396.64. Following the transaction, the chief financial officer now directly owns 88,818 shares of the company’s stock, valued at approximately $6,078,703.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Fortive Price Performance

Shares of FTV opened at $66.91 on Tuesday. Fortive Co. has a twelve month low of $52.47 and a twelve month high of $79.87. The firm’s fifty day simple moving average is $62.49 and its 200-day simple moving average is $60.97. The firm has a market capitalization of $23.67 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 2.47 and a beta of 1.13. The company has a current ratio of 0.94, a quick ratio of 0.73 and a debt-to-equity ratio of 0.27.

Fortive (NYSE:FTVGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Fortive had a net margin of 12.22% and a return on equity of 11.69%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.44 billion. Equities analysts forecast that Fortive Co. will post 3.12 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s payout ratio is 14.66%.

Institutional Investors Weigh In On Fortive

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Fortive by 48.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,725,663 shares of the technology company’s stock worth $2,214,661,000 after acquiring an additional 13,237,805 shares in the last quarter. Viking Global Investors LP raised its stake in Fortive by 41.8% during the 1st quarter. Viking Global Investors LP now owns 12,033,157 shares of the technology company’s stock worth $733,180,000 after acquiring an additional 3,548,215 shares in the last quarter. Gates Capital Management Inc. acquired a new stake in Fortive during the 1st quarter worth $180,743,000. FMR LLC raised its stake in Fortive by 22.8% during the 2nd quarter. FMR LLC now owns 11,759,754 shares of the technology company’s stock worth $639,495,000 after acquiring an additional 2,181,045 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in Fortive by 39.4% during the 3rd quarter. Brown Advisory Inc. now owns 5,710,019 shares of the technology company’s stock worth $332,894,000 after acquiring an additional 1,614,640 shares in the last quarter. 94.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FTV. Citigroup increased their price objective on shares of Fortive from $72.00 to $73.00 in a research report on Monday, October 10th. Wells Fargo & Company increased their price objective on shares of Fortive from $63.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 27th. TheStreet raised shares of Fortive from a “c+” rating to a “b” rating in a research report on Tuesday, August 23rd. Mizuho decreased their price target on shares of Fortive from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, July 18th. Finally, Barclays raised their price target on shares of Fortive to $72.00 in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.57.

Fortive Company Profile

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Insider Buying and Selling by Quarter for Fortive (NYSE:FTV)

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