Sequoia Financial Advisors LLC Has $776,000 Position in Fortive Co. (NYSE:FTV)

Sequoia Financial Advisors LLC lifted its holdings in Fortive Co. (NYSE:FTV) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,828 shares of the technology company’s stock after purchasing an additional 989 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Fortive were worth $776,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Defender Capital LLC. lifted its holdings in shares of Fortive by 10.1% in the third quarter. Defender Capital LLC. now owns 257,833 shares of the technology company’s stock valued at $20,351,000 after purchasing an additional 23,667 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Fortive by 1.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 138,925 shares of the technology company’s stock valued at $10,965,000 after buying an additional 2,012 shares during the last quarter. Whittier Trust Co. increased its position in shares of Fortive by 1.5% in the third quarter. Whittier Trust Co. now owns 328,381 shares of the technology company’s stock valued at $25,919,000 after acquiring an additional 4,933 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in Fortive during the third quarter worth about $60,000. Finally, OLD National Bancorp IN boosted its position in Fortive by 4.6% during the third quarter. OLD National Bancorp IN now owns 4,796 shares of the technology company’s stock valued at $379,000 after purchasing an additional 211 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on Friday, September 13th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $74.97 on Friday. The company has a market capitalization of $26.26 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.21 and a beta of 1.12. The stock’s 50 day moving average is $75.16 and its 200-day moving average is $74.83. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12 month low of $63.50 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. Equities research analysts expect that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio is 12.85%.

Wall Street Analyst Weigh In

FTV has been the topic of a number of analyst reports. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Truist Financial boosted their price objective on shares of Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. 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 research note on Thursday, September 5th. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.10.

Fortive 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.