Curi RMB Capital LLC Invests $216,000 in Fortive Co. (NYSE:FTV)

Curi RMB Capital LLC bought a new stake in Fortive Co. (NYSE:FTV) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 2,733 shares of the technology company’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in shares of 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 acquiring an additional 51,690 shares during the period. Atomi Financial Group Inc. grew its holdings in Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after purchasing an additional 226 shares during the period. Cetera Investment Advisers increased its position in shares of Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after buying an additional 45,032 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Fortive by 6.7% during the 1st 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 period. Finally, Addenda Capital Inc. lifted its position in shares of Fortive by 8.8% during the 2nd quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock valued at $7,298,000 after buying an additional 7,936 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Price Performance

Shares of FTV opened at $74.82 on Friday. The company has a market cap of $25.96 billion, a P/E ratio of 29.81, a PEG ratio of 2.09 and a beta of 1.13. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week 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. The firm’s 50 day moving average price is $75.53 and its 200 day moving average price is $74.18.

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

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given 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 0.43%. Fortive’s dividend payout ratio is presently 12.75%.

Insider Buying and Selling at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated 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 directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock worth $14,261,051 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Morgan Stanley initiated coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price for the company. Finally, Truist Financial lowered their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.82.

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.