Fortive Co. (NYSE:FTV) CFO Sells $508,141.92 in Stock

Fortive Co. (NYSE:FTV) CFO Charles E. Mclaughlin sold 6,864 shares of the company’s 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 owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fortive Stock Up 0.2 %

Shares of FTV stock traded up $0.12 during trading on Monday, reaching $73.72. The company’s stock had a trading volume of 1,511,544 shares, compared to its average volume of 1,848,129. The company has a market cap of $25.83 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The business has a fifty day moving average price of $72.28 and a 200-day moving average price of $76.36. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. Analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio is 12.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FTV shares. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company dropped their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. 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. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.23.

Hedge Funds Weigh In On Fortive

Institutional investors have recently added to or reduced their stakes in the company. Indiana Trust & Investment Management CO bought a new position in Fortive during the first quarter worth $26,000. Ridgewood Investments LLC bought a new stake in Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in shares of Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC bought a new position in shares of Fortive during the second quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Fortive during the first quarter worth approximately $32,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Company 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.