Fortive Corporation $FTV Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Fortive Corporation (NYSE:FTV) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,050 shares of the technology company’s stock after buying an additional 15,708 shares during the period. Envestnet Asset Management Inc.’s holdings in Fortive were worth $15,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FTV. Accent Capital Management LLC purchased a new position in Fortive in the first quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its stake in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after purchasing an additional 357 shares during the last quarter. Capital Analysts LLC grew its holdings in shares of Fortive by 41.0% during the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after purchasing an additional 152 shares during the period. Banque Transatlantique SA increased its position in shares of Fortive by 92.8% during the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after purchasing an additional 270 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Fortive by 459.7% in the 1st quarter. Larson Financial Group LLC now owns 806 shares of the technology company’s stock valued at $59,000 after buying an additional 662 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.92% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $51.09 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The firm has a market cap of $16.23 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 3.03 and a beta of 1.16. The company’s 50 day moving average is $48.99 and its two-hundred day moving average is $56.67.

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

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, November 28th. Fortive’s dividend payout ratio (DPR) is presently 13.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of Fortive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a report on Friday, September 5th. Morgan Stanley boosted their target price on Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Melius Research upgraded Fortive to a “hold” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.29.

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.