Quadrature Capital Ltd Makes New $1.64 Million Investment in Fortive Corporation $FTV

Quadrature Capital Ltd acquired a new stake in Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,395 shares of the technology company’s stock, valued at approximately $1,637,000.

A number of other institutional investors have also recently made changes to their positions in the business. Redmond Asset Management LLC lifted its holdings in Fortive by 1.0% during the 1st quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock worth $1,062,000 after buying an additional 142 shares in the last quarter. Capital Analysts LLC grew its stake in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after acquiring an additional 152 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of Fortive by 19.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,092 shares of the technology company’s stock worth $80,000 after acquiring an additional 175 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Fortive by 5.1% in the second quarter. Valeo Financial Advisors LLC now owns 4,078 shares of the technology company’s stock valued at $213,000 after acquiring an additional 199 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its holdings in Fortive by 1.6% in the first quarter. Marble Harbor Investment Counsel LLC now owns 12,620 shares of the technology company’s stock valued at $924,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares in the company, valued at $2,995,220.80. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.92% of the stock is currently owned by company insiders.

Fortive Price Performance

FTV stock opened at $53.48 on Friday. The business has a 50 day moving average price of $50.20 and a 200 day moving average price of $54.71. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 3.22 and a beta of 1.16. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32.

Fortive (NYSE:FTV) last released its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The company had revenue of $1.07 billion for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. Equities research analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, November 28th. Fortive’s dividend payout ratio (DPR) is currently 13.71%.

Analysts Set New Price Targets

Several brokerages have weighed in on FTV. Truist Financial restated a “hold” rating and set a $58.00 price target (up previously from $55.00) on shares of Fortive in a report on Thursday, October 30th. Mizuho lowered their price objective on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Morgan Stanley raised their target price on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.38.

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.