Verition Fund Management LLC Has $5.94 Million Stake in Fortive Co. (NYSE:FTV)

Verition Fund Management LLC raised its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 118.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,239 shares of the technology company's stock after purchasing an additional 40,800 shares during the quarter. Verition Fund Management LLC's holdings in Fortive were worth $5,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Private Advisor Group LLC lifted its position in shares of Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock worth $308,000 after purchasing an additional 135 shares during the last quarter. RDA Financial Network increased its position in shares of Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company's stock worth $311,000 after acquiring an additional 138 shares during the period. QRG Capital Management Inc. raised its stake in shares of 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 acquiring an additional 146 shares in the last quarter. Andina Capital Management LLC grew its stake in Fortive by 3.4% in the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company's stock worth $328,000 after purchasing an additional 147 shares in the last quarter. Finally, Patton Albertson Miller Group LLC grew its stake in Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock worth $699,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

FTV has been the subject of a number of research reports. Wolfe Research lowered shares of Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price objective on the stock. Argus reissued a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Barclays decreased their price target on shares of Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on shares of Fortive from $82.00 to $77.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $87.82.

Insider Activity

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the company's 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 owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 17.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the business's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction 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 represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock worth $14,261,051 in the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Down 0.5 %

Shares of Fortive stock traded down $0.39 on Tuesday, reaching $78.57. 2,067,353 shares of the company were exchanged, compared to its average volume of 2,003,830. The company has a market cap of $27.26 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14. The stock's 50 day moving average price is $76.31 and its 200-day moving average price is $74.24. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. 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 announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the firm posted $0.85 earnings per share. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be 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 of this dividend is Friday, November 29th. Fortive's dividend payout ratio (DPR) is currently 12.75%.

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.