Guinness Asset Management LTD Has $538,000 Stock Position in Fortive Co. (NYSE:FTV)

Guinness Asset Management LTD grew its position in Fortive Co. (NYSE:FTV) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,816 shares of the technology company’s stock after buying an additional 394 shares during the period. Guinness Asset Management LTD’s holdings in Fortive were worth $538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Indiana Trust & Investment Management CO acquired a new position in shares of Fortive in the 1st quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in Fortive in the 2nd quarter valued at $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the 2nd quarter valued at $30,000. Goodman Advisory Group LLC bought a new stake in Fortive in the 2nd quarter valued at $31,000. Finally, Advisors Asset Management Inc. bought a new stake in Fortive in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock traded up $0.78 on Friday, reaching $78.02. The stock had a trading volume of 1,286,861 shares, compared to its average volume of 1,847,341. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $73.55 and its two-hundred day moving average is $75.41. The firm has a market capitalization of $27.33 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 2.24 and a beta of 1.12. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Fortive’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is currently 12.85%.

Wall Street Analysts Forecast Growth

FTV has been the topic of several research reports. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $92.00 in a research report on Thursday. Truist Financial boosted their price target on shares of Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley started coverage on shares of Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.36.

Insider Activity at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

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.