Summit Trail Advisors LLC Acquires 558 Shares of Fortive Co. (NYSE:FTV)

Summit Trail Advisors LLC increased its stake in Fortive Co. (NYSE:FTV) by 9.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,220 shares of the technology company’s stock after acquiring an additional 558 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fortive were worth $458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OFI Invest Asset Management purchased a new stake in Fortive during the 3rd quarter worth approximately $25,000. Cornerstone Planning Group LLC acquired a new position in Fortive in the third quarter valued at approximately $28,000. Cetera Trust Company N.A purchased a new stake in Fortive during the fourth quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Fortive during the 3rd quarter valued at about $30,000. Finally, Spire Wealth Management increased its position in shares of Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after buying an additional 208 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the topic of a number of research analyst reports. Barclays lifted their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company dropped their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Mizuho lifted their price target on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Citigroup reduced their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $86.46.

Fortive Stock Performance

Fortive stock traded up $0.41 during mid-day trading on Tuesday, reaching $77.39. The company had a trading volume of 328,948 shares, compared to its average volume of 1,701,237. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.22 and a beta of 1.15. The company has a 50 day moving average of $82.76 and a 200-day moving average of $76.22. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, sell-side analysts expect that Fortive Co. will post 3.81 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Fortive’s dividend payout ratio is 12.65%.

Insiders Place Their Bets

In related news, CEO Tamara S. Newcombe sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares in the company, valued at approximately $4,676,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 55,017 shares of the company’s stock, valued at $4,676,445. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock valued at $5,475,122 in the last 90 days. 0.95% of the stock is currently owned by 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.