Financial Counselors Inc. Purchases 4,674 Shares of Fortive Co. (NYSE:FTV)

Financial Counselors Inc. boosted its position in Fortive Co. (NYSE:FTV) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,456 shares of the technology company’s stock after acquiring an additional 4,674 shares during the period. Financial Counselors Inc.’s holdings in Fortive were worth $13,296,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares during the period. Atomi Financial Group Inc. lifted its stake in Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after buying an additional 226 shares during the period. Cetera Investment Advisers lifted its stake in Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after buying an additional 45,032 shares during the period. Addenda Capital Inc. lifted its stake in Fortive by 8.8% in the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock valued at $7,298,000 after buying an additional 7,936 shares during the period. Finally, Blue Trust Inc. lifted its stake in Fortive by 111.3% in the second quarter. Blue Trust Inc. now owns 541 shares of the technology company’s stock valued at $40,000 after buying an additional 285 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.6 %

Shares of Fortive stock opened at $79.40 on Friday. The business’s 50 day simple moving average is $76.17 and its 200 day simple moving average is $74.25. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The firm has a market cap of $27.55 billion, a PE ratio of 31.63, a P/E/G ratio of 2.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm earned $0.85 EPS. Fortive’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts predict 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. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio is 12.75%.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 17.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock worth $14,261,051 over the last ninety days. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FTV has been the topic of several analyst reports. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Truist Financial dropped their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Wells Fargo & Company dropped their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Finally, Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

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.