Fortive Corp (NYSE:FTV) Shares Bought by Moneta Group Investment Advisors LLC

Moneta Group Investment Advisors LLC raised its position in Fortive Corp (NYSE:FTV) by 264.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,476 shares of the technology company’s stock after acquiring an additional 19,946 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Fortive were worth $791,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FTV. Toth Financial Advisory Corp grew its stake in shares of Fortive by 105.2% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,375 shares of the technology company’s stock valued at $106,000 after purchasing an additional 705 shares during the period. Signaturefd LLC bought a new stake in shares of Fortive in the 1st quarter valued at approximately $114,000. Fort L.P. bought a new stake in shares of Fortive in the 2nd quarter valued at approximately $122,000. Flagship Harbor Advisors LLC bought a new stake in shares of Fortive in the 2nd quarter valued at approximately $132,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Fortive by 5,816.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock valued at $137,000 after purchasing an additional 1,745 shares during the period. 81.42% of the stock is owned by hedge funds and other institutional investors.

NYSE FTV opened at $83.65 on Tuesday. The company has a market cap of $29.40 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 2.04 and a beta of 0.56. Fortive Corp has a one year low of $69.03 and a one year high of $88.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.68 and a current ratio of 1.96.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Fortive had a return on equity of 27.22% and a net margin of 16.38%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts forecast that Fortive Corp will post 3.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Thursday, August 30th. Fortive’s dividend payout ratio is 9.69%.

Several equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Fortive in a research note on Wednesday, June 27th. They issued an “outperform” rating on the stock. Morgan Stanley set a $90.00 price objective on Fortive and gave the company an “equal weight” rating in a research note on Tuesday, October 2nd. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a research note on Monday, June 11th. Argus increased their price target on Fortive from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Finally, BMO Capital Markets increased their price target on Fortive from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $86.09.

In other Fortive news, VP Raj Ratnakar sold 30,912 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $80.71, for a total transaction of $2,494,907.52. Following the transaction, the vice president now owns 13,244 shares of the company’s stock, valued at approximately $1,068,923.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Barbara B. Hulit sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $82.29, for a total value of $1,234,350.00. Following the transaction, the insider now directly owns 51,113 shares in the company, valued at approximately $4,206,088.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,602 shares of company stock worth $6,047,572. Company insiders own 12.20% of the company’s stock.

Fortive Company Profile

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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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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