Atomi Financial Group Inc. Buys 226 Shares of Fortive Co. (NYSE:FTV)

Atomi Financial Group Inc. lifted its stake in shares of Fortive Co. (NYSE:FTV) by 4.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,932 shares of the technology company’s stock after acquiring an additional 226 shares during the period. Atomi Financial Group Inc.’s holdings in Fortive were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Boston Partners lifted its holdings in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after acquiring an additional 1,999,792 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after acquiring an additional 205,893 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of Fortive by 6.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after acquiring an additional 168,368 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Fortive by 3.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after acquiring an additional 94,170 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $92.00 in a report on Thursday. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley started coverage on shares of Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. Finally, Truist Financial boosted their price target on shares of Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.36.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $78.01 on Friday. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The company’s 50-day moving average is $73.36 and its 200 day moving average is $75.45. The stock has a market capitalization of $27.33 billion, a P/E ratio of 31.33, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, sell-side analysts expect that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.85%.

About Fortive

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.