Fortive Co. (NYSE:FTV) Shares Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. increased its position in shares of Fortive Co. (NYSE:FTV) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,227 shares of the technology company’s stock after purchasing an additional 148 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Fortive were worth $466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Moneta Group Investment Advisors LLC raised its holdings in Fortive by 61,103.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock worth $231,338,000 after purchasing an additional 3,594,708 shares during the last quarter. Boston Partners increased its position in Fortive by 120.5% during the first quarter. Boston Partners now owns 5,798,615 shares of the technology company’s stock worth $394,299,000 after buying an additional 3,168,489 shares in the last quarter. Norges Bank purchased a new position in Fortive during the fourth quarter worth $193,761,000. American Century Companies Inc. increased its position in Fortive by 21,435.4% during the fourth quarter. American Century Companies Inc. now owns 1,683,426 shares of the technology company’s stock worth $108,160,000 after buying an additional 1,675,609 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Fortive by 414.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,731,020 shares of the technology company’s stock worth $111,218,000 after buying an additional 1,394,542 shares in the last quarter. 95.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on FTV. Argus raised their price target on Fortive from $80.00 to $85.00 in a research report on Thursday, July 27th. Seaport Res Ptn reissued a “buy” rating on shares of Fortive in a research report on Monday, August 7th. StockNews.com began coverage on Fortive in a research report on Thursday, August 17th. They set a “buy” rating for the company. TD Cowen raised their price target on Fortive from $70.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 23rd. Finally, Barclays lifted their price objective on Fortive from $77.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.00.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 16,911 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $76.66, for a total value of $1,296,397.26. Following the transaction, the chief financial officer now owns 101,319 shares in the company, valued at $7,767,114.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Charles E. Mclaughlin sold 16,911 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $76.66, for a total value of $1,296,397.26. Following the completion of the sale, the chief financial officer now directly owns 101,319 shares of the company’s stock, valued at $7,767,114.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher M. Mulhall sold 4,700 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $76.85, for a total value of $361,195.00. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $1,652,812.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,404 shares of company stock worth $3,324,757. 0.95% of the stock is currently owned by corporate insiders.

Fortive Trading Up 0.6 %

Shares of FTV opened at $76.47 on Tuesday. The stock’s 50-day moving average is $77.00 and its two-hundred day moving average is $70.62. The stock has a market cap of $26.92 billion, a PE ratio of 33.98, a P/E/G ratio of 2.80 and a beta of 1.15. Fortive Co. has a 12 month low of $57.43 and a 12 month high of $79.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.96 and a quick ratio of 0.74.

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

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, August 31st. Fortive’s dividend payout ratio (DPR) is 12.44%.

Fortive Profile

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.