Geller Advisors LLC Takes $206,000 Position in Fortive Co. (NYSE:FTV)

Geller Advisors LLC bought a new stake in shares of Fortive Co. (NYSE:FTV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,612 shares of the technology company’s stock, valued at approximately $206,000.

A number of other hedge funds have also bought and sold shares of FTV. CWM LLC grew its stake in Fortive by 10.2% in the second quarter. CWM LLC now owns 9,523 shares of the technology company’s stock worth $706,000 after purchasing an additional 879 shares in the last quarter. Diversified Trust Co lifted its holdings in Fortive by 29.0% in the second quarter. Diversified Trust Co now owns 29,578 shares of the technology company’s stock worth $2,192,000 after acquiring an additional 6,658 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Fortive by 2.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 40,212 shares of the technology company’s stock worth $2,980,000 after acquiring an additional 943 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Fortive by 8.5% in the second quarter. V Square Quantitative Management LLC now owns 9,211 shares of the technology company’s stock worth $683,000 after acquiring an additional 724 shares during the last quarter. Finally, Addenda Capital Inc. lifted its holdings in Fortive by 8.8% in the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock worth $7,298,000 after acquiring an additional 7,936 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price on the stock. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a report on Thursday, September 5th. Finally, Truist Financial cut their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.73.

Insiders Place Their Bets

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on 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 owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This trade represents a 17.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 8.55 % 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 worth $14,261,051. Corporate insiders own 1.01% of the company’s stock.

Fortive Trading Down 0.5 %

Fortive stock opened at $78.48 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm’s 50 day moving average price is $76.36 and its two-hundred day moving average price is $74.30.

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

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is 12.75%.

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.