Point72 Asia Singapore Pte. Ltd. Takes Position in Fortive Co. (NYSE:FTV)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fortive Co. (NYSE:FTV) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,096 shares of the technology company’s stock, valued at approximately $165,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Fortive during the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new position in Fortive during the 2nd quarter valued at about $30,000. International Assets Investment Management LLC acquired a new position in Fortive during the 2nd quarter valued at about $30,000. Goodman Advisory Group LLC acquired a new position in Fortive during the 2nd quarter valued at about $31,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 176 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Price Performance

NYSE:FTV opened at $78.86 on Thursday. The company has a 50-day moving average of $76.37 and a 200-day moving average of $74.27. The company has a market capitalization of $27.36 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.17 and a beta of 1.14. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

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

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 197,895 shares of company stock worth $14,261,051 in the last quarter. 1.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on FTV shares. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Barclays dropped their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company dropped 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 report on Thursday, October 31st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.82.

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.