Fortive Corporation $FTV Shares Acquired by Perpetual Ltd

Perpetual Ltd boosted its position in shares of Fortive Corporation (NYSE:FTV) by 40.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 613,793 shares of the technology company’s stock after buying an additional 177,689 shares during the quarter. Perpetual Ltd’s holdings in Fortive were worth $30,070,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FTV. Board of the Pension Protection Fund acquired a new stake in Fortive in the 3rd quarter valued at about $142,000. Kennebec Savings Bank lifted its position in shares of Fortive by 9.7% during the 3rd quarter. Kennebec Savings Bank now owns 5,334 shares of the technology company’s stock valued at $261,000 after acquiring an additional 470 shares during the last quarter. Voya Investment Management LLC lifted its position in shares of Fortive by 14.0% during the 3rd quarter. Voya Investment Management LLC now owns 507,055 shares of the technology company’s stock valued at $24,841,000 after acquiring an additional 62,127 shares during the last quarter. RDA Financial Network boosted its stake in shares of Fortive by 51.1% during the 3rd quarter. RDA Financial Network now owns 8,314 shares of the technology company’s stock worth $407,000 after acquiring an additional 2,810 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of Fortive by 3.5% in the 3rd quarter. Czech National Bank now owns 85,931 shares of the technology company’s stock valued at $4,210,000 after purchasing an additional 2,876 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Fortive Trading Up 0.4%

Fortive stock opened at $54.88 on Friday. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The company’s fifty day moving average price is $51.77 and its two-hundred day moving average price is $53.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 3.29 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The firm had revenue of $1.07 billion for the quarter. On average, analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fortive in a research note on Monday. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their price objective on Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley lifted their target price on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and a consensus price target of $57.54.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.