Bank of Montreal Can Buys 1,613 Shares of Fortive Corporation $FTV

Bank of Montreal Can increased its stake in Fortive Corporation (NYSE:FTV) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,742 shares of the technology company’s stock after buying an additional 1,613 shares during the period. Bank of Montreal Can owned 0.10% of Fortive worth $16,772,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State of Michigan Retirement System lifted its stake in shares of Fortive by 5.1% in the 2nd quarter. State of Michigan Retirement System now owns 97,260 shares of the technology company’s stock valued at $5,070,000 after purchasing an additional 4,700 shares during the period. MUFG Securities EMEA plc raised its holdings in Fortive by 10.3% in the second quarter. MUFG Securities EMEA plc now owns 138,999 shares of the technology company’s stock worth $7,246,000 after purchasing an additional 12,999 shares in the last quarter. Atria Investments Inc lifted its position in Fortive by 7.2% during the second quarter. Atria Investments Inc now owns 6,515 shares of the technology company’s stock valued at $340,000 after buying an additional 437 shares during the period. Assetmark Inc. boosted its holdings in shares of Fortive by 25.1% during the 2nd quarter. Assetmark Inc. now owns 30,157 shares of the technology company’s stock valued at $1,572,000 after buying an additional 6,056 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in shares of Fortive by 8.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 6,298 shares of the technology company’s stock worth $328,000 after buying an additional 510 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction that occurred 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 sale, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.92% of the stock is owned by corporate insiders.

Fortive Stock Performance

FTV stock opened at $51.22 on Friday. The stock’s 50 day simple moving average is $49.06 and its 200 day simple moving average is $56.58. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32. The stock has a market capitalization of $16.27 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 3.08 and a beta of 1.16.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The firm had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. As a group, research analysts forecast 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. Stockholders of record on Friday, November 28th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Fortive’s dividend payout ratio (DPR) is presently 13.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FTV shares. Weiss Ratings raised shares of Fortive from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Melius cut Fortive from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a research report on Tuesday, July 22nd. Wall Street Zen raised Fortive to a “hold” rating in a research report on Friday, September 5th. Finally, Barclays boosted their target price on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $59.29.

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.