Frank Rimerman Advisors LLC Has $309,000 Stock Position in Fortive Co. (NYSE:FTV)

Frank Rimerman Advisors LLC increased its position in shares of Fortive Co. (NYSE:FTV) by 21.3% in the fourth quarter, HoldingsChannel reports. The firm owned 4,124 shares of the technology company’s stock after purchasing an additional 723 shares during the period. Frank Rimerman Advisors LLC’s holdings in Fortive were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. acquired a new stake in shares of Fortive during the 4th quarter worth about $74,000. Tredje AP fonden increased its position in Fortive by 36.0% in the 4th quarter. Tredje AP fonden now owns 340,000 shares of the technology company’s stock valued at $25,500,000 after acquiring an additional 90,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Fortive in the 4th quarter valued at about $5,238,000. Sequoia Financial Advisors LLC increased its position in Fortive by 8.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,704 shares of the technology company’s stock valued at $803,000 after acquiring an additional 876 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in Fortive by 2.6% in the 4th quarter. King Luther Capital Management Corp now owns 584,627 shares of the technology company’s stock valued at $43,847,000 after acquiring an additional 14,683 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 1.4 %

Fortive stock opened at $74.71 on Tuesday. The company’s 50 day simple moving average is $78.78 and its 200 day simple moving average is $76.86. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is currently 13.56%.

Insiders Place Their Bets

In other Fortive news, CEO James A. Lico sold 196,117 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company’s stock.

Analyst Ratings Changes

FTV has been the subject of several research reports. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada raised their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Finally, Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

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.