Ferguson Wellman Capital Management Inc. Buys 26,600 Shares of Fortive Co. (NYSE:FTV)

Ferguson Wellman Capital Management Inc. raised its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 990,048 shares of the technology company's stock after purchasing an additional 26,600 shares during the period. Fortive accounts for about 1.5% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 19th biggest holding. Ferguson Wellman Capital Management Inc. owned approximately 0.29% of Fortive worth $78,144,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FTV. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter worth $25,000. Advisors Asset Management Inc. purchased a new stake in shares of Fortive during the first quarter worth about $32,000. Ridgewood Investments LLC bought a new stake in Fortive during the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in Fortive in the 2nd quarter worth approximately $30,000. Finally, Goodman Advisory Group LLC bought a new position in Fortive in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Trading Down 0.7 %

NYSE:FTV traded down $0.57 during mid-day trading on Thursday, hitting $75.62. 3,087,095 shares of the stock traded hands, compared to its average volume of 1,969,389. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 2.06 and a beta of 1.13. The firm's 50 day moving average is $75.39 and its two-hundred day moving average is $74.18.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, November 29th. Fortive's dividend payout ratio is currently 12.75%.

Analyst Ratings Changes

Several equities analysts have recently commented on FTV shares. Wells Fargo & Company lowered their target price on shares of Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. raised shares of 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. Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a report on Thursday, October 31st. Truist Financial dropped their price target on Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Finally, Morgan Stanley initiated coverage on Fortive in a research note on Friday, September 6th. They issued an "overweight" rating and a $89.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Fortive has a consensus rating of "Moderate Buy" and a consensus target price of $87.82.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,895 shares of company stock worth $14,261,051. Insiders own 1.01% of the company's stock.

Fortive Company 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.