Traders Purchase Large Volume of Fortive Corporation Put Options (FTV)

Fortive Corporation (NYSE:FTV) was the target of unusually large options trading activity on Friday. Investors bought 2,409 put options on the stock. This represents an increase of approximately Infinity compared to the typical daily volume of 0 put options.

In other Fortive Corporation news, SVP Stacey A. Walker sold 4,775 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the sale, the insider now owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. APG Asset Management N.V. grew its holdings in Fortive Corporation by 49.7% during the 3rd quarter. APG Asset Management N.V. now owns 2,182,268 shares of the technology company’s stock valued at $154,483,000 after purchasing an additional 724,400 shares during the last quarter. Swiss National Bank grew its holdings in Fortive Corporation by 3.2% during the 2nd quarter. Swiss National Bank now owns 1,137,872 shares of the technology company’s stock valued at $72,084,000 after purchasing an additional 35,300 shares during the last quarter. Hikari Power Ltd grew its holdings in Fortive Corporation by 34.7% during the 2nd quarter. Hikari Power Ltd now owns 141,700 shares of the technology company’s stock valued at $8,977,000 after purchasing an additional 36,500 shares during the last quarter. Synovus Financial Corp grew its holdings in Fortive Corporation by 23.9% during the 2nd quarter. Synovus Financial Corp now owns 29,587 shares of the technology company’s stock valued at $1,872,000 after purchasing an additional 5,715 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Fortive Corporation by 24.5% during the 2nd quarter. Toronto Dominion Bank now owns 104,177 shares of the technology company’s stock valued at $6,598,000 after purchasing an additional 20,519 shares during the last quarter. Institutional investors own 79.13% of the company’s stock.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Fortive Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Monday, July 24th. Stifel Nicolaus boosted their price target on shares of Fortive Corporation from $62.00 to $72.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Citigroup Inc. boosted their price target on shares of Fortive Corporation from $72.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $72.00 price target (up previously from $71.00) on shares of Fortive Corporation in a research note on Monday, October 2nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price target (up previously from $65.00) on shares of Fortive Corporation in a research note on Sunday, July 30th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Fortive Corporation has an average rating of “Hold” and an average target price of $69.10.

Shares of Fortive Corporation (NYSE:FTV) opened at $72.67 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06. The stock has a market cap of $25,100.00 and a PE ratio of 26.32. Fortive Corporation has a 1 year low of $52.99 and a 1 year high of $74.38.

Fortive Corporation (NYSE:FTV) last announced its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Fortive Corporation had a net margin of 14.39% and a return on equity of 31.67%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. sell-side analysts anticipate that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 22nd. Fortive Corporation’s dividend payout ratio is 10.57%.

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About Fortive Corporation

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

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