1,507 Shares in Fortive Co. (NYSE:FTV) Bought by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in Fortive Co. (NYSE:FTV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,507 shares of the technology company’s stock, valued at approximately $119,000.

Several other large investors also recently bought and sold shares of FTV. Mizuho Securities USA LLC increased its position in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. Boston Partners increased its position in Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after purchasing an additional 505,882 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Fortive by 1,053.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after purchasing an additional 349,530 shares during the last quarter. Finally, Clarkston Capital Partners LLC bought a new stake in Fortive in the third quarter worth $25,930,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on FTV. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Barclays cut their price objective 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. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. 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 research report on Thursday, September 5th. Finally, Truist Financial lowered their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Stock Up 0.6 %

NYSE:FTV opened at $79.40 on Thursday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a 50-day moving average of $76.13 and a 200 day moving average of $74.21. The firm has a market cap of $27.55 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

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

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s 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 owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 17.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,895 shares of company stock worth $14,261,051. Corporate insiders own 1.01% of the company’s stock.

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.