Fortive Co. (NYSE:FTV) Stake Lifted by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC increased its stake in Fortive Co. (NYSE:FTV) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,238 shares of the technology company’s stock after acquiring an additional 1,440 shares during the period. Fortive makes up approximately 1.3% of McCollum Christoferson Group LLC’s investment portfolio, making the stock its 29th biggest position. McCollum Christoferson Group LLC’s holdings in Fortive were worth $4,597,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Indiana Trust & Investment Management CO bought a new position in shares of Fortive in the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of Fortive in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new stake in shares of Fortive in the 2nd quarter valued at approximately $30,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the 2nd quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Fortive in the 1st quarter valued at approximately $32,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FTV. Truist Financial upped their price target on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a research report on Monday, July 8th. Finally, Barclays increased their target price on shares of Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average price target of $87.36.

Insiders Place Their Bets

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

Fortive Stock Performance

NYSE:FTV opened at $77.23 on Thursday. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The firm’s fifty day simple moving average is $74.16 and its 200 day simple moving average is $75.16. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $27.19 billion, a PE ratio of 30.53, a PEG ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last posted 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 business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.85 EPS. On average, sell-side analysts anticipate that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s dividend payout ratio is 12.65%.

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.