Seelaus Asset Management LLC Acquires Shares of 3,840 Fortive Co. (NYSE:FTV)

Seelaus Asset Management LLC bought a new position in Fortive Co. (NYSE:FTV) during the third quarter, Holdings Channel.com reports. The firm bought 3,840 shares of the technology company’s stock, valued at approximately $303,000.

Several other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new stake in shares of Fortive during the 3rd quarter valued at $25,000. Ridgewood Investments LLC purchased a new position in Fortive in the second quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive during the 2nd quarter valued at approximately $30,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive during the 2nd quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive in the 1st quarter worth approximately $32,000. 94.94% of the stock is owned by institutional investors.

Fortive Trading Down 1.0 %

Shares of FTV opened at $74.82 on Friday. The firm has a 50 day moving average price of $75.53 and a 200-day moving average price of $74.18. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.09 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the business earned $0.85 EPS. Fortive’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. UBS Group initiated coverage on shares of Fortive in a report on Wednesday. They set a “neutral” rating and a $84.00 price objective on the stock. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Royal Bank of Canada lowered 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. Finally, Truist Financial cut their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’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 owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. 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 corporate insiders.

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.