RMB Capital Management LLC lifted its stake in Fortive Co. (NYSE:FTV) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,404 shares of the technology company’s stock after buying an additional 950 shares during the quarter. RMB Capital Management LLC’s holdings in Fortive were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC grew its position in shares of Fortive by 182.5% during the first quarter. CVA Family Office LLC now owns 387 shares of the technology company’s stock worth $27,000 after purchasing an additional 250 shares in the last quarter. Sowell Financial Services LLC grew its position in shares of Fortive by 418.3% during the first quarter. Sowell Financial Services LLC now owns 425 shares of the technology company’s stock worth $31,000 after purchasing an additional 343 shares in the last quarter. Regent Peak Wealth Advisors LLC purchased a new stake in shares of Fortive during the fourth quarter worth about $35,000. Vectors Research Management LLC purchased a new stake in shares of Fortive during the fourth quarter worth about $43,000. Finally, Advisors Capital Management LLC purchased a new stake in shares of Fortive during the fourth quarter worth about $51,000. 91.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FTV opened at $70.47 on Friday. The company has a market cap of $23.86 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 4.81 and a beta of 1.13. The company has a current ratio of 1.13, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. Fortive Co. has a twelve month low of $60.82 and a twelve month high of $82.12. The firm’s fifty day moving average price is $71.95.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, May 28th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, May 27th. Fortive’s payout ratio is 13.40%.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Fortive from a “buy” rating to a “hold” rating and set a $76.00 price target for the company. in a report on Wednesday, April 21st. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and raised their price target for the company from $70.00 to $80.00 in a report on Thursday, May 20th. Morgan Stanley raised their price target on Fortive from $76.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, April 30th. Rosenblatt Securities raised their price target on Fortive from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, May 4th. Finally, Credit Suisse Group dropped their target price on Fortive from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, May 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $79.77.
In related news, Director Steven M. Rales sold 60,107 shares of the business’s stock in a transaction on Wednesday, May 12th. The stock was sold at an average price of $69.79, for a total transaction of $4,194,867.53. Following the transaction, the director now directly owns 3,250,072 shares in the company, valued at approximately $226,822,524.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven M. Rales sold 1,368,180 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $72.45, for a total value of $99,124,641.00. Following the transaction, the director now owns 3,250,072 shares in the company, valued at $235,467,716.40. The disclosure for this sale can be found here. Insiders own 12.60% of the company’s stock.
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.
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