Quintet Private Bank Europe S.A. Acquires 34,303 Shares of Fortive Co. (NYSE:FTV)

Quintet Private Bank Europe S.A. grew its stake in shares of Fortive Co. (NYSE:FTV) by 12.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 303,468 shares of the technology company’s stock after purchasing an additional 34,303 shares during the quarter. Fortive accounts for 1.4% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 26th largest position. Quintet Private Bank Europe S.A.’s holdings in Fortive were worth $23,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FTV. Sequoia Financial Advisors LLC grew its position in shares of Fortive by 31.1% during the first quarter. Sequoia Financial Advisors LLC now owns 9,119 shares of the technology company’s stock valued at $784,000 after purchasing an additional 2,161 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Fortive by 104.3% in the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock worth $31,748,000 after acquiring an additional 188,415 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Fortive by 27.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,730 shares of the technology company’s stock worth $837,000 after acquiring an additional 2,080 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Fortive during the 1st quarter valued at approximately $205,000. Finally, Nordea Investment Management AB raised its stake in Fortive by 70.1% during the first 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 in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Morgan Stanley initiated coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Finally, Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.20.

Insider Transactions at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated 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 owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Up 0.2 %

NYSE:FTV traded up $0.16 during midday trading on Monday, reaching $71.50. 871,891 shares of the stock traded hands, compared to its average volume of 1,902,606. The business has a 50-day moving average of $75.27 and a two-hundred day moving average of $74.39. The stock has a market capitalization of $24.81 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 1.25. Fortive Co. has a 12-month low of $64.69 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Fortive’s dividend payout ratio is currently 12.75%.

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.