Clarkston Capital Partners LLC Buys Shares of 328,520 Fortive Co. (NYSE:FTV)

Clarkston Capital Partners LLC purchased a new position in shares of Fortive Co. (NYSE:FTV) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 328,520 shares of the technology company’s stock, valued at approximately $25,930,000. Clarkston Capital Partners LLC owned approximately 0.09% of Fortive at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. purchased a new stake in Fortive in the first quarter valued at about $253,000. Acadian Asset Management LLC acquired a new stake in Fortive in the 1st quarter worth approximately $184,000. Edgestream Partners L.P. purchased a new stake in Fortive during the 1st quarter worth approximately $383,000. Rockport Wealth LLC acquired a new position in Fortive during the 1st quarter valued at approximately $286,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Fortive by 16.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,844 shares of the technology company’s stock worth $1,277,000 after buying an additional 2,055 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 1.0 %

Shares of NYSE:FTV opened at $74.82 on Monday. The business’s 50 day moving average price is $75.53 and its 200-day moving average price is $74.16. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.05 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 posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for 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 revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, equities research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock valued at $14,261,051 over the last quarter. 1.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Truist Financial decreased their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

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.