Atria Investments Inc Acquires 163 Shares of Fortive Co. (NYSE:FTV)

Atria Investments Inc grew its holdings in Fortive Co. (NYSE:FTV) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,591 shares of the technology company’s stock after purchasing an additional 163 shares during the period. Atria Investments Inc’s holdings in Fortive were worth $836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Fortive in the 3rd quarter worth about $25,000. Ridgewood Investments LLC purchased a new position in shares of Fortive during the second quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive during the second quarter valued at approximately $30,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the second quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. bought a new position in Fortive in the first quarter worth approximately $32,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Royal Bank of Canada dropped their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial lowered their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average target price of $87.82.

Fortive Price Performance

Shares of NYSE:FTV opened at $74.61 on Tuesday. The company has a market cap of $25.89 billion, a PE ratio of 29.73, a price-to-earnings-growth 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’s 50 day moving average is $75.58 and its 200 day moving average is $74.15. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (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 net margin of 14.35% and a return on equity of 12.56%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, sell-side analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

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

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 17.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is owned by corporate insiders.

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.