nVerses Capital LLC Invests $537,000 in Fortive Co. (NYSE:FTV)

nVerses Capital LLC 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 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,800 shares of the technology company's stock, valued at approximately $537,000.

A number of other hedge funds have also added to or reduced their stakes in the business. McCollum Christoferson Group LLC boosted its holdings in shares of Fortive by 2.5% in the 3rd quarter. McCollum Christoferson Group LLC now owns 58,238 shares of the technology company's stock valued at $4,597,000 after buying an additional 1,440 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Fortive by 7.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 5,872 shares of the technology company's stock valued at $463,000 after acquiring an additional 402 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of Fortive by 4.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 200,416 shares of the technology company's stock valued at $15,819,000 after purchasing an additional 8,691 shares during the period. Novare Capital Management LLC bought a new stake in shares of Fortive in the 3rd quarter valued at about $6,851,000. Finally, Exchange Traded Concepts LLC bought a new position in Fortive during the third quarter worth about $41,000. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of recent analyst reports. Raymond James raised Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Barclays increased their price objective on shares of Fortive from $96.00 to $98.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised shares of Fortive from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $77.00 price target on shares of Fortive in a report on Friday, September 6th. Finally, TD Cowen upgraded Fortive from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Fortive presently has an average rating of "Moderate Buy" and a consensus target price of $87.36.

Fortive Price Performance

NYSE:FTV traded up $0.12 during mid-day trading on Friday, reaching $77.39. The stock had a trading volume of 609,166 shares, compared to its average volume of 1,841,001. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The stock has a market capitalization of $27.24 billion, a PE ratio of 30.55, a P/E/G ratio of 2.24 and a beta of 1.12. 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 stock has a 50-day simple moving average of $74.33 and a two-hundred day simple moving average of $75.18.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive's payout ratio is presently 12.65%.

Insider Buying and Selling at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm'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 transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Corporate 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.