Edgestream Partners L.P. Invests $3.32 Million in Fortive Corporation $FTV

Edgestream Partners L.P. acquired a new stake in shares of Fortive Corporation (NYSE:FTV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 63,605 shares of the technology company’s stock, valued at approximately $3,316,000.

Several other institutional investors and hedge funds have also bought and sold shares of FTV. True Wealth Design LLC increased its position in shares of Fortive by 815.4% during the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after buying an additional 357 shares during the period. Capital Analysts LLC increased its holdings in Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after buying an additional 152 shares during the last quarter. Banque Transatlantique SA increased its holdings in Fortive by 92.8% during the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after buying an additional 270 shares during the last quarter. Finally, Andra AP fonden bought a new position in Fortive in the second quarter worth approximately $57,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.92% of the company’s stock.

Fortive Price Performance

Shares of Fortive stock opened at $53.43 on Thursday. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 3.20 and a beta of 1.13. 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 stock’s 50-day simple moving average is $50.49 and its 200-day simple moving average is $54.29. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32.

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

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 13.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FTV shares. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen upgraded Fortive to a “hold” rating in a research report on Friday, September 5th. Robert W. Baird boosted their price target on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Barclays raised their price objective on Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Finally, Mizuho cut their price objective on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Fortive currently has a consensus rating of “Hold” and a consensus price target of $57.38.

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.