Insider Selling: Fortive Co. (NYSE:FTV) SVP Sells $382,900.00 in Stock

Fortive Co. (NYSE:FTV) SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Fortive Stock Performance

Shares of NYSE: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 company has a 50-day moving average price of $75.45 and a 200-day moving average price of $74.19. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 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 the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

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

Hedge Funds Weigh In On Fortive

A number of institutional investors have recently bought and sold shares of the stock. LRI Investments LLC grew its holdings in shares of Fortive by 24.9% during the 3rd quarter. LRI Investments LLC now owns 3,761 shares of the technology company’s stock worth $284,000 after acquiring an additional 750 shares during the period. Geller Advisors LLC bought a new stake in shares of Fortive during the third quarter valued at approximately $206,000. Nomura Asset Management Co. Ltd. grew its stake in Fortive by 4.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 144,409 shares of the technology company’s stock worth $11,398,000 after purchasing an additional 6,515 shares during the period. Headinvest LLC raised its holdings in Fortive by 3.7% in the third quarter. Headinvest LLC now owns 36,467 shares of the technology company’s stock worth $2,878,000 after purchasing an additional 1,290 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Fortive during the third quarter valued at $1,346,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Thursday, September 5th. Wells Fargo & Company dropped their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, UBS Group assumed coverage on shares of Fortive in a research report on Wednesday. They issued a “neutral” rating and a $84.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $87.82.

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.