Belpointe Asset Management LLC Takes Position in Fortive Corporation (FTV)

Belpointe Asset Management LLC bought a new stake in Fortive Corporation (NYSE:FTV) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 29,831 shares of the technology company’s stock, valued at approximately $2,112,000.

A number of other institutional investors have also recently made changes to their positions in FTV. BDO Wealth Advisors LLC acquired a new stake in Fortive in the 2nd quarter valued at approximately $128,000. Westwood Holdings Group Inc. acquired a new stake in Fortive in the 2nd quarter valued at approximately $139,000. Sun Life Financial INC raised its position in Fortive by 21,940.0% in the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock valued at $140,000 after buying an additional 2,194 shares during the last quarter. Willingdon Wealth Management acquired a new stake in Fortive in the 3rd quarter valued at approximately $143,000. Finally, Captrust Financial Advisors acquired a new stake in Fortive in the 2nd quarter valued at approximately $147,000. 78.96% of the stock is currently owned by institutional investors and hedge funds.

Fortive Corporation (NYSE FTV) opened at $72.52 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.95. Fortive Corporation has a one year low of $52.99 and a one year high of $75.69. The company has a market capitalization of $25,375.29, a P/E ratio of 26.45, a PEG ratio of 2.52 and a beta of 0.38.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. research analysts anticipate that Fortive Corporation will post 2.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive’s dividend payout ratio is currently 10.57%.

In other news, insider James A. Lico sold 50,000 shares of Fortive stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

A number of brokerages recently issued reports on FTV. Argus raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. BMO Capital Markets began coverage on Fortive in a research report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 price target on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $81.00 price target on shares of Fortive in a research report on Friday, October 27th. Finally, Citigroup boosted their price target on Fortive from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Fortive has a consensus rating of “Buy” and an average price target of $70.27.

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Fortive Company Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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