Centiva Capital LP Invests $848,000 in Fortive Co. (NYSE:FTV)

Centiva Capital LP bought a new position in shares of Fortive Co. (NYSE:FTV - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,750 shares of the technology company's stock, valued at approximately $848,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its holdings in shares of Fortive by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock valued at $308,000 after purchasing an additional 135 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company's stock valued at $1,371,000 after buying an additional 146 shares during the last quarter. Andina Capital Management LLC grew its holdings in Fortive by 3.4% during the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company's stock valued at $328,000 after buying an additional 147 shares in the last quarter. Patton Albertson Miller Group LLC grew its holdings in Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock valued at $699,000 after buying an additional 150 shares in the last quarter. Finally, Axiom Advisory LLC increased its stake in Fortive by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company's stock worth $734,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Fortive Trading Down 0.3 %

Shares of NYSE:FTV traded down $0.25 on Friday, hitting $78.89. 2,957,986 shares of the company's stock were exchanged, compared to its average volume of 2,614,847. The stock has a market capitalization of $27.37 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.14. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The business's 50 day simple moving average is $76.37 and its two-hundred day simple moving average is $74.30. 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 - Get Free Report) last released 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 company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Analysts anticipate that Fortive Co. will post 3.85 EPS 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 issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive's payout ratio is currently 12.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 31st. Morgan Stanley initiated coverage on shares of Fortive in a report on Friday, September 6th. They issued an "overweight" rating and a $89.00 target price on the stock. Wolfe Research cut shares of Fortive from an "outperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Mizuho upgraded Fortive from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upgraded Fortive from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Fortive currently has a consensus rating of "Moderate Buy" and an average price target of $87.82.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is currently owned by company insiders.

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.