Quest Partners LLC Acquires 3,016 Shares of Fortive Co. (NYSE:FTV)

Quest Partners LLC raised its holdings in shares of Fortive Co. (NYSE:FTV) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,563 shares of the technology company’s stock after purchasing an additional 3,016 shares during the quarter. Quest Partners LLC’s holdings in Fortive were worth $2,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the 3rd quarter worth about $25,000. Advisors Asset Management Inc. bought a new stake in shares of Fortive in the 1st quarter worth about $32,000. Ridgewood Investments LLC bought a new stake in shares of Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive in the 2nd quarter worth about $30,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of Fortive in the 2nd quarter worth about $31,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 1.0 %

NYSE:FTV opened at $74.82 on Monday. The company has a market cap of $25.96 billion, a PE ratio of 29.81, a P/E/G ratio of 2.05 and a beta of 1.13. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. 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 company’s 50 day moving average is $75.53 and its two-hundred day moving average is $74.16.

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

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is 12.75%.

Insider Buying and Selling at Fortive

In related news, 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 value of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,895 shares of company stock worth $14,261,051. Company insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. upgraded shares of 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. Wells Fargo & Company decreased their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Finally, Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.