Entropy Technologies LP Acquires Shares of 65,506 Fortive Co. (NYSE:FTV)

Entropy Technologies LP acquired a new stake in shares of Fortive Co. (NYSE:FTV) in the third quarter, Holdings Channel reports. The fund acquired 65,506 shares of the technology company’s stock, valued at approximately $5,170,000.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Fortive in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new position in shares of Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in shares of Fortive in the 2nd quarter valued at about $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive in the 2nd quarter valued at about $31,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Fortive in the 1st quarter valued at about $32,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FTV has been the topic of several analyst reports. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, September 5th. Morgan Stanley started coverage on Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada lowered their target price 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. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.20.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,895 shares of company stock worth $13,878,151 over the last quarter. 1.01% of the stock is currently owned by company insiders.

Fortive Trading Up 1.3 %

Shares of NYSE FTV opened at $76.16 on Tuesday. Fortive Co. has a 1-year low of $65.14 and a 1-year high of $87.10. The company has a market cap of $26.42 billion, a PE ratio of 30.34, a P/E/G ratio of 2.06 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $75.22 and a two-hundred day moving average of $74.18.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business 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%. Fortive’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts expect that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.