Fortive Co. (NYSE:FTV) Shares Purchased by Andina Capital Management LLC

Andina Capital Management LLC boosted its position in Fortive Co. (NYSE:FTV) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,585 shares of the technology company’s stock after purchasing an additional 152 shares during the period. Andina Capital Management LLC’s holdings in Fortive were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Fortive by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 841,041 shares of the technology company’s stock worth $72,346,000 after purchasing an additional 4,669 shares during the last quarter. Arcus Capital Partners LLC purchased a new stake in Fortive in the 1st quarter worth approximately $756,000. First Trust Direct Indexing L.P. grew its stake in Fortive by 14.1% in the 1st quarter. First Trust Direct Indexing L.P. now owns 8,375 shares of the technology company’s stock worth $720,000 after acquiring an additional 1,035 shares during the period. New Century Financial Group LLC purchased a new stake in Fortive in the 1st quarter worth approximately $233,000. Finally, Maryland State Retirement & Pension System grew its stake in Fortive by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 27,751 shares of the technology company’s stock worth $2,216,000 after acquiring an additional 750 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’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 completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now 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 position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Fortive Stock Performance

Shares of NYSE:FTV traded down $0.16 during trading on Tuesday, reaching $75.00. 1,756,477 shares of the company’s stock traded hands, compared to its average volume of 1,876,845. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. Fortive Co. has a 12 month low of $64.28 and a 12 month high of $87.10. The company has a 50 day moving average of $75.25 and a 200-day moving average of $74.64. The stock has a market capitalization of $26.40 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12.

Fortive Dividend Announcement

The firm also recently disclosed 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio is presently 12.65%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and lifted their target price for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $77.00 price target on shares of Fortive in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.10.

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.