Choreo LLC Purchases 3,850 Shares of Fortive Corporation $FTV

Choreo LLC boosted its position in Fortive Corporation (NYSE:FTV) by 29.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,728 shares of the technology company’s stock after purchasing an additional 3,850 shares during the period. Choreo LLC’s holdings in Fortive were worth $872,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of Fortive by 17.9% in the second quarter. Russell Investments Group Ltd. now owns 445,950 shares of the technology company’s stock valued at $23,247,000 after acquiring an additional 67,819 shares in the last quarter. Laurel Wealth Advisors LLC boosted its position in Fortive by 5,113.3% in the second quarter. Laurel Wealth Advisors LLC now owns 16,109 shares of the technology company’s stock worth $840,000 after purchasing an additional 15,800 shares during the last quarter. Timber Creek Capital Management LLC grew its stake in Fortive by 5.3% in the 2nd quarter. Timber Creek Capital Management LLC now owns 77,822 shares of the technology company’s stock valued at $3,767,000 after purchasing an additional 3,929 shares during the period. XTX Topco Ltd increased its position in shares of Fortive by 187.8% during the 2nd quarter. XTX Topco Ltd now owns 9,037 shares of the technology company’s stock valued at $471,000 after purchasing an additional 5,897 shares during the last quarter. Finally, South Plains Financial Inc. raised its stake in shares of Fortive by 32.8% during the 2nd quarter. South Plains Financial Inc. now owns 2,089 shares of the technology company’s stock worth $109,000 after purchasing an additional 516 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FTV shares. Citigroup increased their price target on shares of Fortive from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their target price on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Barclays raised their price target on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Robert W. Baird lifted their price target on shares of Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.38.

Fortive Stock Performance

Shares of FTV stock opened at $53.48 on Monday. The firm’s 50 day moving average is $50.20 and its 200 day moving average is $54.58. The stock has a market capitalization of $16.99 billion, a P/E ratio of 30.56, a PEG ratio of 3.22 and a beta of 1.13. Fortive Corporation has a 12 month low of $46.34 and a 12 month high of $83.32. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. On average, sell-side analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio is 13.71%.

About Fortive

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.