Proficio Capital Partners LLC Takes $5.85 Million Position in Fortive Co. (NYSE:FTV)

Proficio Capital Partners LLC purchased a new position in shares of Fortive Co. (NYSE:FTV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 77,957 shares of the technology company’s stock, valued at approximately $5,847,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in shares of Fortive in the 3rd quarter worth $25,000. Whipplewood Advisors LLC purchased a new position in Fortive during the fourth quarter worth about $31,000. Versant Capital Management Inc lifted its position in Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust purchased a new stake in Fortive in the 4th quarter valued at approximately $37,000. Finally, Albion Financial Group UT acquired a new position in Fortive during the 4th quarter worth approximately $38,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Down 0.7 %

Shares of NYSE FTV opened at $79.00 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The firm’s 50-day moving average is $78.79 and its two-hundred day moving average is $76.65. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a market capitalization of $26.88 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the previous year, the firm posted $0.98 EPS. Equities analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company 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 $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is 13.56%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays reduced their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company increased their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.64.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares of the company’s stock, valued at $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,298 shares of company stock valued at $16,740,998 in the last ninety days. Insiders own 1.01% 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.