Curi RMB Capital LLC Acquires New Shares in Fortive Co. (NYSE:FTV)

Curi RMB Capital LLC bought a new position in shares of Fortive Co. (NYSE:FTV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,733 shares of the technology company’s stock, valued at approximately $216,000.

Several other large investors also recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Fortive by 4.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after acquiring an additional 226 shares in the last quarter. Cetera Investment Advisers raised its position in Fortive by 599.3% during the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after acquiring an additional 45,032 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Fortive by 6.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after purchasing an additional 17,225 shares in the last quarter. Finally, Addenda Capital Inc. grew its position in shares of Fortive by 8.8% in the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock valued at $7,298,000 after purchasing an additional 7,936 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

FTV stock opened at $74.82 on Friday. The stock has a 50-day moving average price of $75.53 and a two-hundred day moving average price of $74.18. The company has a market cap of $25.96 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last posted 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. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, research analysts predict 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. Investors of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s payout ratio is 12.75%.

Wall Street Analysts Forecast Growth

FTV has been the subject of several research reports. UBS Group initiated coverage on Fortive in a research report on Wednesday. They set a “neutral” rating and a $84.00 price objective for the company. 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. Truist Financial decreased their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada decreased 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 note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.82.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’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 transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 197,895 shares of company stock valued at $14,261,051. Company 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.