Seelaus Asset Management LLC Purchases New Stake in Fortive Co. (NYSE:FTV)

Seelaus Asset Management LLC acquired a new position in shares of Fortive Co. (NYSE:FTV) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,840 shares of the technology company’s stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FTV. Private Advisor Group LLC boosted its stake in Fortive by 3.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after purchasing an additional 135 shares during the period. RDA Financial Network grew its stake in shares of Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after acquiring an additional 138 shares in the last quarter. Pitcairn Co. increased its position in Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. raised its stake in Fortive by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 146 shares in the last quarter. Finally, Andina Capital Management LLC increased its holdings in shares of Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after purchasing an additional 147 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FTV. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $90.00 to $92.00 in a report on Thursday, October 10th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Truist Financial decreased their target price on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada dropped their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, Raymond James raised shares of 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 17.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock valued at $14,261,051 in the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Performance

Shares of FTV opened at $74.82 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’s fifty day simple moving average is $75.53 and its two-hundred day simple moving average is $74.18. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The stock has a market capitalization of $25.96 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

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 analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. As a group, analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

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.