Captrust Financial Advisors Boosts Stock Position in Fortive Co. (NYSE:FTV)

Captrust Financial Advisors boosted its holdings in Fortive Co. (NYSE:FTV) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,875 shares of the technology company’s stock after purchasing an additional 1,729 shares during the period. Captrust Financial Advisors’ holdings in Fortive were worth $1,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FTV. Parvin Asset Management LLC purchased a new position in shares of Fortive during the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new position in shares of Fortive during the 4th quarter valued at $31,000. Crews Bank & Trust purchased a new position in shares of Fortive during the 4th quarter valued at $37,000. Quarry LP lifted its position in shares of Fortive by 229.6% during the 4th quarter. Quarry LP now owns 501 shares of the technology company’s stock valued at $38,000 after buying an additional 349 shares during the last quarter. Finally, Albion Financial Group UT purchased a new position in shares of Fortive during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 14,327 shares of Fortive stock in a transaction on Monday, May 12th. The stock was sold at an average price of $73.88, for a total value of $1,058,478.76. Following the transaction, the senior vice president now directly owns 51,750 shares in the company, valued at approximately $3,823,290. This trade represents a 21.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now directly owns 47,141 shares of the company’s stock, valued at $3,795,793.32. The trade was a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,712 shares of company stock worth $20,567,008 in the last ninety days. 1.01% of the stock is owned by company insiders.

Fortive Stock Performance

NYSE FTV opened at $72.90 on Thursday. The firm has a market cap of $24.78 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $69.84 and a 200-day moving average price of $74.88. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. Fortive’s payout ratio is 14.04%.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent research reports. Citigroup dropped their price target on Fortive from $84.00 to $69.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada boosted their price objective on Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Truist Financial decreased their price objective on Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Finally, BNP Paribas lowered Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price objective on the stock. in a research note on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.85.

Fortive Company 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.