Crestwood Advisors Group LLC Buys 1,211 Shares of Fortive Co. (NYSE:FTV)

Crestwood Advisors Group LLC boosted its stake in shares of Fortive Co. (NYSE:FTV) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,757 shares of the technology company’s stock after buying an additional 1,211 shares during the period. Crestwood Advisors Group LLC’s holdings in Fortive were worth $33,659,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new position in Fortive during the 4th quarter valued at approximately $33,000. Ridgewood Investments LLC bought a new position in Fortive during the 1st quarter valued at approximately $37,000. Belpointe Asset Management LLC bought a new position in Fortive during the 4th quarter valued at approximately $36,000. Oakworth Capital Inc. bought a new position in Fortive during the 1st quarter valued at approximately $40,000. Finally, Creative Financial Designs Inc. ADV increased its position in Fortive by 290.7% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 711 shares of the technology company’s stock valued at $48,000 after buying an additional 529 shares in the last quarter. Institutional investors own 95.95% of the company’s stock.

Insider Activity at Fortive

In related news, CAO Christopher M. Mulhall sold 4,700 shares of Fortive stock in a transaction on Friday, July 28th. The stock was sold at an average price of $76.85, for a total transaction of $361,195.00. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at $1,652,812.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Christopher M. Mulhall sold 4,700 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $76.85, for a total value of $361,195.00. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at $1,652,812.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick K. Murphy sold 21,793 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $76.50, for a total value of $1,667,164.50. Following the completion of the transaction, the chief executive officer now owns 60,716 shares in the company, valued at $4,644,774. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,404 shares of company stock worth $3,324,757. Corporate insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on FTV. Seaport Res Ptn reissued a “buy” rating on shares of Fortive in a report on Monday, August 7th. Royal Bank of Canada lifted their target price on Fortive from $74.00 to $75.00 in a report on Friday, May 26th. TD Cowen lifted their target price on Fortive from $70.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. Barclays lifted their target price on Fortive from $77.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Finally, Robert W. Baird lifted their target price on Fortive from $82.00 to $85.00 in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.00.

Fortive Stock Performance

Shares of FTV stock traded up $0.17 on Monday, reaching $79.02. The stock had a trading volume of 1,212,600 shares, compared to its average volume of 1,998,920. The stock has a market cap of $27.82 billion, a P/E ratio of 35.12, a price-to-earnings-growth ratio of 2.92 and a beta of 1.15. Fortive Co. has a 1 year low of $57.43 and a 1 year high of $79.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.74 and a current ratio of 0.96. The company has a 50 day simple moving average of $76.17 and a 200 day simple moving average of $69.92.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 26th. The technology company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Fortive had a return on equity of 11.99% and a net margin of 13.39%. Fortive’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Equities research analysts expect that Fortive Co. will post 3.42 EPS for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.28 annualized dividend and a yield of 0.35%. Fortive’s dividend payout ratio (DPR) is presently 12.44%.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.