Summit Trail Advisors LLC Has $458,000 Holdings in Fortive Co. (NYSE:FTV)

Summit Trail Advisors LLC lifted its stake in shares of Fortive Co. (NYSE:FTV) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,220 shares of the technology company’s stock after buying an additional 558 shares during the period. Summit Trail Advisors LLC’s holdings in Fortive were worth $458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of Fortive in the third quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Fortive in the 3rd quarter worth about $28,000. Cetera Trust Company N.A purchased a new position in shares of Fortive in the 4th quarter worth about $28,000. First Command Advisory Services Inc. purchased a new stake in Fortive during the 3rd quarter valued at about $30,000. Finally, Spire Wealth Management boosted its holdings in Fortive by 69.3% during the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

FTV stock traded up $0.41 on Tuesday, hitting $77.39. 328,948 shares of the company’s stock traded hands, compared to its average volume of 1,701,237. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The stock has a fifty day moving average of $82.76 and a 200-day moving average of $76.22. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $27.24 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 2.22 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. On average, analysts forecast that Fortive Co. will post 3.81 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s payout ratio is 12.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Royal Bank of Canada cut their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. Citigroup dropped their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Barclays boosted their price target on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $86.46.

Insider Buying and Selling

In related news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the sale, the chief accounting officer now directly owns 20,564 shares in the company, valued at $1,689,743.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock worth $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive 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.