Traders Purchase High Volume of Fortive Call Options (FTV)
Fortive Corporation (NYSE:FTV) was the recipient of some unusual options trading activity on Monday. Stock investors purchased 591 call options on the company. This is an increase of 658% compared to the average daily volume of 78 call options.
In related news, SVP Stacey A. Walker sold 4,775 shares of Fortive stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total value of $346,139.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the business’s stock in a transaction dated 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 owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. BDO Wealth Advisors LLC acquired a new stake in shares of Fortive in the 2nd quarter worth $128,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Fortive in the 3rd quarter worth $135,000. Westwood Holdings Group Inc. purchased a new position in shares of Fortive during the 2nd quarter worth $139,000. Sun Life Financial INC grew its holdings in shares of Fortive by 21,940.0% during the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,194 shares during the period. Finally, Willingdon Wealth Management purchased a new position in shares of Fortive during the 3rd quarter worth $143,000. 78.75% of the stock is owned by institutional investors and hedge funds.
Fortive (NYSE:FTV) last announced its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue was up 7.4% on a year-over-year basis. sell-side analysts forecast that Fortive will post 2.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 22nd. Fortive’s dividend payout ratio is currently 10.57%.
A number of equities analysts have commented on FTV shares. Zacks Investment Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Royal Bank of Canada restated a “hold” rating and set a $66.00 price objective on shares of Fortive in a report on Friday, September 15th. Morgan Stanley restated an “equal weight” rating and set a $72.00 price objective (up previously from $71.00) on shares of Fortive in a report on Monday, October 2nd. Citigroup restated a “neutral” rating and set a $72.00 price objective (up previously from $65.00) on shares of Fortive in a report on Monday, October 9th. Finally, Stifel Nicolaus upped their price objective on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.27.
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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.
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