Parallel Advisors LLC Has $402,000 Position in Fortive Co. (NYSE:FTV)

Parallel Advisors LLC grew its holdings in Fortive Co. (NYSE:FTV) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 5,363 shares of the technology company’s stock after acquiring an additional 231 shares during the quarter. Parallel Advisors LLC’s holdings in Fortive were worth $402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Asset Management L.P. grew its holdings in Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after buying an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the last quarter. Holocene Advisors LP grew its stake in shares of Fortive by 1,014.1% in the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after acquiring an additional 841,671 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after acquiring an additional 505,882 shares during the last quarter. Finally, Amundi grew its stake in shares of Fortive by 22.4% in the fourth quarter. Amundi now owns 1,785,483 shares of the technology company’s stock worth $137,036,000 after acquiring an additional 326,652 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In related news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock valued at $19,508,529 in the last three months. 1.01% of the stock is owned by corporate insiders.

Fortive Price Performance

Shares of FTV stock opened at $74.84 on Friday. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The stock’s fifty day simple moving average is $78.65 and its 200 day simple moving average is $76.83. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period last year, the firm earned $0.98 EPS. On average, analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Barclays decreased their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.