International Assets Investment Management LLC Invests $2.22 Million in Fortive Co. (NYSE:FTV)

International Assets Investment Management LLC acquired a new position in shares of Fortive Co. (NYSE:FTV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 30,118 shares of the technology company’s stock, valued at approximately $2,218,000.

Several other hedge funds have also added to or reduced their stakes in the business. Ronald Blue Trust Inc. raised its stake in Fortive by 5.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,865 shares of the technology company’s stock worth $214,000 after buying an additional 138 shares during the period. RFG Advisory LLC raised its stake in Fortive by 2.4% during the 3rd quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock worth $491,000 after buying an additional 153 shares during the period. Brighton Jones LLC raised its stake in Fortive by 5.3% during the 3rd quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock worth $237,000 after buying an additional 160 shares during the period. TCI Wealth Advisors Inc. raised its stake in Fortive by 4.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock worth $260,000 after buying an additional 165 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Fortive by 17.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,937 shares of company stock worth $5,475,122. Company insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on FTV shares. Mizuho raised their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Citigroup lifted their price target on Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their price target on Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Barclays lifted their price target on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.54.

Fortive Price Performance

NYSE:FTV opened at $79.49 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. The stock’s 50-day simple moving average is $84.41 and its 200 day simple moving average is $76.02. The company has a market cap of $27.93 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.45 and a beta of 1.13. Fortive Co. has a 52-week low of $62.70 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. Fortive’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is currently 13.11%.

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.