Weitz Investment Management Inc. Purchases 4,650 Shares of Fortive Corporation $FTV

Weitz Investment Management Inc. boosted its holdings in Fortive Corporation (NYSE:FTV) by 11.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 45,450 shares of the technology company’s stock after acquiring an additional 4,650 shares during the quarter. Weitz Investment Management Inc.’s holdings in Fortive were worth $2,369,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FTV. Accent Capital Management LLC bought a new position in shares of Fortive in the first quarter valued at $26,000. True Wealth Design LLC raised its holdings in shares of Fortive by 815.4% in the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after acquiring an additional 424 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares during the last quarter. Capital Analysts LLC lifted its position in Fortive by 41.0% in the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after acquiring an additional 152 shares in the last quarter. Finally, Banque Transatlantique SA boosted its stake in Fortive by 92.8% during the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FTV has been the subject of several analyst reports. Royal Bank Of Canada lowered their price objective on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a research note on Thursday, July 31st. Robert W. Baird upped their price target on Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. increased their price target on Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Citigroup lifted their price objective on shares of Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Fortive has a consensus rating of “Hold” and a consensus target price of $57.38.

Fortive Price Performance

FTV opened at $52.84 on Monday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The firm has a 50-day moving average of $49.74 and a 200 day moving average of $55.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The firm has a market cap of $16.78 billion, a P/E ratio of 30.19, a PEG ratio of 3.18 and a beta of 1.16.

Fortive (NYSE:FTV) last released its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The firm had revenue of $1.07 billion during the quarter. On average, research analysts expect that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Fortive’s dividend payout ratio (DPR) is currently 13.71%.

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.