Atlanta Consulting Group Advisors LLC Takes $223,000 Position in Fortive Co. (NYSE:FTV)

Atlanta Consulting Group Advisors LLC acquired a new stake in Fortive Co. (NYSE:FTV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,829 shares of the technology company’s stock, valued at approximately $223,000.

Several other institutional investors have also bought and sold shares of FTV. Natixis Advisors LLC grew its stake in shares of Fortive by 1.7% during the 3rd quarter. Natixis Advisors LLC now owns 43,593 shares of the technology company’s stock worth $3,441,000 after acquiring an additional 737 shares during the period. Mizuho Securities USA LLC lifted its holdings in Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. Seelaus Asset Management LLC bought a new position in Fortive during the third quarter worth about $303,000. Empowered Funds LLC increased its stake in shares of Fortive by 3.3% in the third quarter. Empowered Funds LLC now owns 5,410 shares of the technology company’s stock worth $427,000 after purchasing an additional 174 shares in the last quarter. Finally, Empirical Finance LLC raised its position in shares of Fortive by 2.3% in the third quarter. Empirical Finance LLC now owns 12,030 shares of the technology company’s stock valued at $950,000 after purchasing an additional 266 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the 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 sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Performance

Fortive stock opened at $74.82 on Monday. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two 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. The stock has a market cap of $25.96 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The firm’s fifty day moving average price is $75.53 and its 200-day moving average price is $74.16.

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

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley started coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Barclays reduced their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Truist Financial reduced their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.82.

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.