Brooklyn Investment Group Acquires New Position in Fortive Co. (NYSE:FTV)

Brooklyn Investment Group acquired a new stake in Fortive Co. (NYSE:FTV) in the 3rd quarter, Holdings Channel reports. The fund acquired 1,507 shares of the technology company’s stock, valued at approximately $119,000.

A number of other institutional investors also recently bought and sold shares of FTV. Mizuho Securities USA LLC raised its position in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after buying an additional 3,972,855 shares during the last quarter. Boston Partners raised its position in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after buying an additional 1,045,245 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fortive by 59.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after purchasing an additional 505,882 shares during the period. D. E. Shaw & Co. Inc. grew its stake in shares of Fortive by 1,053.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after purchasing an additional 349,530 shares during the period. Finally, Clarkston Capital Partners LLC acquired a new stake in shares of Fortive during the 3rd quarter worth approximately $25,930,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s 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 sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is owned by insiders.

Fortive Stock Performance

Shares of Fortive stock opened at $79.40 on Thursday. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company 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. The business has a 50-day simple moving average of $76.13 and a 200-day simple moving average of $74.21.

Fortive (NYSE:FTV) last announced its quarterly 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. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share. On average, equities research analysts forecast that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FTV shares. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Morgan Stanley started coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective on the stock. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wells Fargo & Company dropped their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Fortive presently 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.