Arcus Capital Partners LLC Purchases 1,664 Shares of Fortive Co. (NYSE:FTV)

Arcus Capital Partners LLC raised its position in shares of Fortive Co. (NYSE:FTV) by 18.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,746 shares of the technology company’s stock after purchasing an additional 1,664 shares during the period. Arcus Capital Partners LLC’s holdings in Fortive were worth $848,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Fortive during the 3rd quarter valued at $25,000. Advisors Asset Management Inc. bought a new position in shares of Fortive in the first quarter worth about $32,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the second quarter worth about $30,000. International Assets Investment Management LLC purchased a new stake in shares of Fortive during the second quarter worth about $30,000. Finally, Goodman Advisory Group LLC bought a new stake in Fortive during the 2nd quarter valued at approximately $31,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Trading Up 1.3 %

FTV opened at $76.16 on Tuesday. The stock has a 50-day moving average of $75.25 and a 200 day moving average of $74.18. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12 month low of $65.14 and a 12 month high of $87.10. The firm has a market cap of $26.42 billion, a P/E ratio of 30.34, a P/E/G ratio of 2.06 and a beta of 1.13.

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

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FTV shares. Morgan Stanley started coverage on Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company dropped their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.20.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 192,895 shares of company stock valued at $13,878,151 over the last 90 days. Insiders own 1.01% of the company’s stock.

Fortive Profile

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.