OneDigital Investment Advisors LLC Decreases Position in Fortive Co. (NYSE:FTV)

OneDigital Investment Advisors LLC lessened its holdings in Fortive Co. (NYSE:FTV) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,259 shares of the technology company’s stock after selling 4,006 shares during the period. OneDigital Investment Advisors LLC’s holdings in Fortive were worth $4,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP purchased a new position in Fortive in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new position in Fortive in the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in Fortive in the 2nd quarter valued at approximately $30,000. Goodman Advisory Group LLC purchased a new position in Fortive in the 2nd quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. purchased a new position in Fortive in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective on the stock. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Finally, Royal Bank of Canada reduced their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Price Performance

Shares of NYSE:FTV opened at $74.82 on Friday. The company’s fifty day moving average price is $75.45 and its 200 day moving average price is $74.19. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The firm has a market capitalization of $25.96 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.09 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 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. As a group, sell-side analysts predict that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed 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 0.43%. Fortive’s dividend payout ratio is presently 12.75%.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive 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 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 17.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is owned by company insiders.

About Fortive

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.