Oppenheimer Asset Management Inc. Purchases Shares of 5,396 Fortive Co. (NYSE:FTV)

Oppenheimer Asset Management Inc. purchased a new stake in shares of Fortive Co. (NYSE:FTV) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,396 shares of the technology company’s stock, valued at approximately $426,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James & Associates lifted its position in Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. grew its position in Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares in the last quarter. Cetera Investment Advisers increased its stake in Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after acquiring an additional 45,032 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Fortive by 6.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after purchasing an additional 17,225 shares in the last quarter. Finally, Addenda Capital Inc. lifted its stake in Fortive by 8.8% during the second quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company’s stock worth $7,298,000 after purchasing an additional 7,936 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock valued at $14,261,051 in the last three months. 1.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FTV. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. UBS Group initiated coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Barclays reduced their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Truist Financial lowered their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.82.

Fortive Stock Performance

NYSE:FTV opened at $74.50 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $75.62 and its 200 day simple moving average is $74.14. The stock has a market cap of $25.85 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.85 earnings per share. As a group, research analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.