Atlantic Union Bankshares Corp Purchases Shares of 2,588 Fortive Co. (NYSE:FTV)

Atlantic Union Bankshares Corp acquired a new position in Fortive Co. (NYSE:FTV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,588 shares of the technology company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Fortive in the 3rd quarter worth $25,000. Advisors Asset Management Inc. bought a new stake in shares of Fortive in the first quarter worth about $32,000. Ridgewood Investments LLC purchased a new position in Fortive during the 2nd quarter valued at about $30,000. International Assets Investment Management LLC bought a new position in Fortive during the 2nd quarter valued at approximately $30,000. Finally, Goodman Advisory Group LLC purchased a new stake in Fortive in the 2nd quarter worth approximately $31,000. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 8.55 % 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 over the last ninety days. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of FTV stock opened at $79.33 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company’s 50-day moving average is $76.23 and its 200 day moving average is $74.24.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Sell-side analysts expect that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared 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 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTV. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company decreased their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada reduced their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. UBS Group initiated coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.82.

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.