King Luther Capital Management Corp Buys 28,514 Shares of Fortive Co. (NYSE:FTV)

King Luther Capital Management Corp boosted its stake in Fortive Co. (NYSE:FTV) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 569,944 shares of the technology company’s stock after purchasing an additional 28,514 shares during the quarter. King Luther Capital Management Corp owned approximately 0.16% of Fortive worth $44,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter worth about $25,000. Ridgewood Investments LLC bought a new position in Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC bought a new position in Fortive in the 2nd quarter worth about $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive during the 2nd quarter valued at about $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive during the 1st quarter valued at about $32,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock valued at $14,261,051 in the last ninety days. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Shares of FTV stock opened at $75.75 on Thursday. 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 stock has a 50 day moving average price of $75.69 and a 200 day moving average price of $74.15. The firm has a market capitalization of $26.28 billion, a P/E ratio of 30.18, a P/E/G ratio of 2.05 and a beta of 1.13. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. Fortive’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. As a group, sell-side analysts predict that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTV. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Barclays decreased their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Finally, Truist Financial dropped their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.