Hazlett Burt & Watson Inc. Acquires 2,750 Shares of Fortive Co. (NYSE:FTV)

Hazlett Burt & Watson Inc. lifted its stake in shares of Fortive Co. (NYSE:FTV) by 550.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,250 shares of the technology company’s stock after buying an additional 2,750 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Fortive were worth $256,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in Fortive in the second quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in Fortive in the second quarter worth about $30,000. Goodman Advisory Group LLC bought a new position in shares of Fortive during the second quarter valued at $31,000. Advisors Asset Management Inc. bought a new position in Fortive in the 1st quarter worth about $32,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent research reports. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Truist Financial decreased their price target on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company dropped their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.20.

Fortive Stock Down 0.3 %

Fortive stock opened at $71.16 on Tuesday. Fortive Co. has a fifty-two week low of $64.69 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The firm has a 50 day moving average price of $75.22 and a 200 day moving average price of $74.33. The company has a market capitalization of $24.69 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Research analysts expect that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. Fortive’s dividend payout ratio (DPR) is 12.75%.

Insiders Place Their Bets

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on 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 directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.