Fortive Corp (NYSE:FTV) VP Emily A. Weaver sold 9,271 shares of Fortive stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total transaction of $699,126.11. Following the completion of the transaction, the vice president now directly owns 9,279 shares in the company, valued at approximately $699,729.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE FTV traded down $0.06 during midday trading on Monday, reaching $74.80. The company’s stock had a trading volume of 4,250 shares, compared to its average volume of 3,881,417. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 0.54. Fortive Corp has a fifty-two week low of $69.03 and a fifty-two week high of $88.34. The company has a market capitalization of $25.00 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 2.07 and a beta of 0.98.
Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. Fortive had a net margin of 15.72% and a return on equity of 24.91%. As a group, sell-side analysts expect that Fortive Corp will post 3 EPS for the current year.
A number of research analysts have weighed in on FTV shares. SunTrust Banks cut their price target on shares of Fortive from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Fortive from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, October 1st. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Tuesday, September 4th. Argus lifted their price objective on shares of Fortive to $94.00 and gave the company a “buy” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, July 31st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $87.18.
Institutional investors and hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp increased its holdings in Fortive by 105.2% during the second quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock worth $106,000 after buying an additional 705 shares during the last quarter. Fort L.P. acquired a new position in Fortive during the second quarter worth $122,000. Stratos Wealth Partners LTD. acquired a new position in Fortive during the third quarter worth $127,000. Flagship Harbor Advisors LLC acquired a new position in Fortive during the second quarter worth $132,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Fortive by 5,816.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock worth $137,000 after buying an additional 1,745 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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