Pinnacle Bancorp Inc. Grows Stock Position in Fortive Co. (NYSE:FTV)

Pinnacle Bancorp Inc. lifted its holdings in shares of Fortive Co. (NYSE:FTV) by 71.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 424 shares of the technology company’s stock after acquiring an additional 176 shares during the period. Pinnacle Bancorp Inc.’s holdings in Fortive were worth $33,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Lipe & Dalton lifted its position in Fortive by 1.9% during the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after acquiring an additional 130 shares during the period. RDA Financial Network raised its stake in shares of Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after purchasing an additional 138 shares during the last quarter. Pitcairn Co. lifted its holdings in shares of Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after purchasing an additional 139 shares during the period. QRG Capital Management Inc. boosted its position in Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after buying an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC increased its holdings in Fortive by 3.4% in the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after buying an additional 147 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $78.01 on Friday. The company has a market capitalization of $27.33 billion, a P/E ratio of 31.33, a P/E/G ratio of 2.24 and a beta of 1.12. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The business’s 50 day moving average is $73.36 and its two-hundred day moving average is $75.45. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.85 EPS. Analysts expect that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 12.85%.

Insider Activity 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 transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on FTV shares. Morgan Stanley began coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a report on Monday, July 8th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $92.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.36.

Fortive 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.