Camden National Bank bought a new position in shares of Fortive Co. (NYSE:FTV – Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,782 shares of the technology company’s stock, valued at approximately $220,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James & Associates grew its holdings in Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares during the period. Atomi Financial Group Inc. raised its stake in Fortive by 4.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after buying an additional 226 shares during the period. Cetera Investment Advisers lifted its holdings in Fortive by 599.3% during the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after acquiring an additional 45,032 shares in the last quarter. Addenda Capital Inc. grew its stake in Fortive by 8.8% in the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock valued at $7,298,000 after acquiring an additional 7,936 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Fortive by 111.3% in the second quarter. Blue Trust Inc. now owns 541 shares of the technology company’s stock worth $40,000 after acquiring an additional 285 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
Fortive Price Performance
NYSE:FTV opened at $78.42 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $75.85 and a 200 day simple moving average of $74.16. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The stock has a market capitalization of $27.21 billion, a PE ratio of 31.24, a P/E/G ratio of 2.11 and a beta of 1.13.
Fortive Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s dividend payout ratio is currently 12.75%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on FTV shares. Wells Fargo & Company decreased their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Morgan Stanley assumed coverage on Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target on the stock. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.
Check Out Our Latest Research Report on FTV
Insider Buying and Selling
In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is owned by insiders.
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.
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