Fortive Co. (NYSE:FTV) Stake Lifted by Aigen Investment Management LP

Aigen Investment Management LP increased its stake in Fortive Co. (NYSE:FTV) by 6.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,286 shares of the technology company’s stock after acquiring an additional 600 shares during the period. Aigen Investment Management LP’s holdings in Fortive were worth $733,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates grew its position in Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. grew its position in Fortive by 4.8% in the third 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 last quarter. Cetera Investment Advisers grew its position in Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after buying an additional 45,032 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock worth $23,719,000 after buying an additional 17,225 shares during the last quarter. Finally, Addenda Capital Inc. grew its position 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 buying an additional 7,936 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Morgan Stanley assumed coverage on shares of Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Barclays lowered their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Fortive Trading Up 1.5 %

Shares of NYSE:FTV opened at $76.19 on Thursday. The firm has a fifty day moving average of $75.30 and a two-hundred day moving average of $74.17. The firm has a market capitalization of $26.43 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion during 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 company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. On average, equities analysts expect that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

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

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief financial officer now directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,895 shares of company stock valued at $14,261,051. Insiders own 1.01% of the company’s stock.

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.