Fortive Co. (NYSE:FTV) Shares Bought by Clearstead Trust LLC

Clearstead Trust LLC grew its stake in shares of Fortive Co. (NYSE:FTV) by 77.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,299 shares of the technology company’s stock after purchasing an additional 568 shares during the quarter. Clearstead Trust LLC’s holdings in Fortive were worth $96,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Indiana Trust & Investment Management CO acquired a new position in shares of Fortive during the first quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of Fortive during the second quarter worth about $30,000. International Assets Investment Management LLC acquired a new position in shares of Fortive during the second quarter worth about $30,000. Advisors Asset Management Inc. acquired a new position in shares of Fortive during the first quarter worth about $32,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Fortive during the second quarter worth about $34,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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 on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Fortive Stock Up 0.2 %

Shares of Fortive stock opened at $73.72 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $72.28 and a 200 day moving average price of $76.36. The firm has a market cap of $25.95 billion, a P/E ratio of 29.14, a P/E/G ratio of 2.11 and a beta of 1.11. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, sell-side analysts forecast that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio is currently 12.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FTV. Barclays lifted their target price on Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Truist Financial dropped their target price on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Finally, Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.23.

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.