Fortive Co. (NYSE:FTV) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC increased its position in shares of Fortive Co. (NYSE:FTV) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,363 shares of the technology company’s stock after acquiring an additional 231 shares during the period. Parallel Advisors LLC’s holdings in Fortive were worth $402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wedmont Private Capital grew its stake in shares of Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after purchasing an additional 137 shares during the last quarter. Dynasty Wealth Management LLC increased its holdings in shares of Fortive by 1.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock valued at $1,083,000 after buying an additional 142 shares in the last quarter. Patton Albertson Miller Group LLC increased its holdings in shares of Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after buying an additional 150 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Fortive by 13.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock valued at $105,000 after buying an additional 165 shares in the last quarter. Finally, Webster Bank N. A. increased its holdings in shares of Fortive by 6.6% in the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock valued at $202,000 after buying an additional 168 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Fortive

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the transaction, the chief accounting officer now owns 24,283 shares of the company’s stock, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 in the last 90 days. 1.01% of the stock is owned by insiders.

Fortive Trading Up 0.2 %

NYSE FTV opened at $74.84 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The firm’s fifty day simple moving average is $78.65 and its 200-day simple moving average is $76.83. The company has a market capitalization of $25.47 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the company posted $0.98 EPS. As a group, sell-side analysts anticipate that Fortive Co. will post 4.05 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, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 13.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FTV shares. Wells Fargo & Company boosted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

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.