Summit Trail Advisors LLC Grows Stake in Fortive Co. (NYSE:FTV)

Summit Trail Advisors LLC boosted its holdings in shares of Fortive Co. (NYSE:FTV) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,120 shares of the technology company’s stock after purchasing an additional 1,538 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fortive were worth $720,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC raised its position in shares of Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares during the last quarter. Boston Partners grew its stake in Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Fortive by 78.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock valued at $63,221,000 after acquiring an additional 373,957 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Fortive by 1,053.5% in 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 in the last quarter. Finally, Clarkston Capital Partners LLC bought a new position in shares of Fortive during the 3rd quarter valued at about $25,930,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction 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 directly owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FTV has been the topic of several research reports. Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Barclays reduced their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Truist Financial lowered their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. UBS Group began coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Finally, Wells Fargo & Company decreased 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.82.

Fortive Trading Up 1.6 %

Shares of FTV opened at $79.69 on Tuesday. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $75.97 and its 200-day simple moving average is $74.16. The company has a market cap of $27.65 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.15 and a beta of 1.13.

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

Fortive Dividend Announcement

The firm also recently announced 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 payout ratio is 12.75%.

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.