Fortive Corporation (NYSE:FTV) was the recipient of some unusual options trading activity on Friday. Stock traders bought 4,035 put options on the stock. This is an increase of approximately 956% compared to the typical daily volume of 382 put options.
Shares of Fortive Corporation (FTV) opened at 64.47 on Friday. Fortive Corporation has a 12 month low of $46.81 and a 12 month high of $65.21. The stock has a market capitalization of $22.34 billion and a PE ratio of 25.29. The company has a 50-day moving average of $63.70 and a 200-day moving average of $60.42.
Fortive Corporation (NYSE:FTV) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Fortive Corporation had a net margin of 14.02% and a return on equity of 34.27%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, equities research analysts expect that Fortive Corporation will post $2.76 EPS for the current fiscal year.
Several research firms have commented on FTV. Cowen and Company boosted their price target on shares of Fortive Corporation from $46.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 19th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fortive Corporation in a research note on Monday, May 22nd. Morgan Stanley restated an “equal weight” rating on shares of Fortive Corporation in a research note on Tuesday, July 11th. Barclays PLC set a $66.00 target price on shares of Fortive Corporation and gave the stock a “buy” rating in a research note on Sunday, April 30th. Finally, Zacks Investment Research downgraded shares of Fortive Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.64.
In related news, insider James A. Lico sold 131,994 shares of Fortive Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $62.34, for a total value of $8,228,505.96. Following the completion of the sale, the insider now owns 191,101 shares in the company, valued at approximately $11,913,236.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raj Ratnakar sold 11,642 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $62.31, for a total transaction of $725,413.02. Following the completion of the transaction, the vice president now owns 5,020 shares of the company’s stock, valued at approximately $312,796.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,385 shares of company stock worth $9,187,369. Corporate insiders own 12.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FTV. Quadrant Capital Group LLC increased its position in shares of Fortive Corporation by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 1,991 shares of the technology company’s stock valued at $112,000 after buying an additional 7 shares during the period. CENTRAL TRUST Co increased its position in Fortive Corporation by 1.0% in the second quarter. CENTRAL TRUST Co now owns 2,313 shares of the technology company’s stock worth $147,000 after buying an additional 23 shares during the last quarter. Advisor Partners LLC increased its position in Fortive Corporation by 0.7% in the first quarter. Advisor Partners LLC now owns 7,150 shares of the technology company’s stock worth $431,000 after buying an additional 51 shares during the last quarter. Atria Investments LLC increased its position in Fortive Corporation by 1.4% in the second quarter. Atria Investments LLC now owns 4,570 shares of the technology company’s stock worth $289,000 after buying an additional 61 shares during the last quarter. Finally, ING Groep NV increased its position in Fortive Corporation by 0.6% in the second quarter. ING Groep NV now owns 15,448 shares of the technology company’s stock worth $979,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 79.16% of the company’s stock.
About Fortive Corporation
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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