Fortive Corporation $FTV Shares Bought by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. grew its stake in shares of Fortive Corporation (NYSE:FTV) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,644 shares of the technology company’s stock after buying an additional 2,370 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Fortive were worth $2,901,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after acquiring an additional 424 shares during the last quarter. Accent Capital Management LLC acquired a new stake in Fortive during the first quarter worth about $26,000. Geneos Wealth Management Inc. increased its stake in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares during the last quarter. Capital Analysts LLC raised its holdings in shares of Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after purchasing an additional 152 shares during the period. Finally, Banque Transatlantique SA lifted its stake in shares of Fortive by 92.8% in the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after purchasing an additional 270 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FTV. Royal Bank Of Canada decreased their target price on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Citigroup boosted their price objective on shares of Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Barclays raised their target price on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Fortive in a report on Tuesday. Finally, Morgan Stanley upped their price target on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.38.

Fortive Trading Up 0.0%

FTV opened at $53.30 on Friday. The firm’s 50 day moving average is $50.10 and its 200-day moving average is $54.98. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $16.93 billion, a P/E ratio of 30.45, a P/E/G ratio of 3.21 and a beta of 1.16.

Fortive (NYSE:FTV) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The business had revenue of $1.07 billion during the quarter. Analysts expect that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Fortive’s payout ratio is presently 13.71%.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.92% 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.