Fortive Target of Unusually Large Options Trading (NYSE:FTV)

Fortive Corp (NYSE:FTV) was the recipient of unusually large options trading activity on Monday. Investors purchased 591 call options on the company. This is an increase of 658% compared to the typical volume of 78 call options.

In other news, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James A. Lico sold 50,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 166,014 shares of the company’s stock, valued at $12,142,263.96. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.

Large investors have recently modified their holdings of the business. BDO Wealth Advisors LLC bought a new stake in shares of Fortive in the 2nd quarter worth about $128,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Fortive in the 3rd quarter worth about $135,000. Westwood Holdings Group Inc. bought a new stake in shares of Fortive in the 2nd quarter worth about $139,000. Sun Life Financial INC lifted its holdings in shares of Fortive by 21,940.0% in the 2nd quarter. Sun Life Financial INC now owns 2,204 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,194 shares during the last quarter. Finally, Willingdon Wealth Management bought a new stake in shares of Fortive in the 3rd quarter worth about $143,000. 78.75% of the stock is owned by institutional investors and hedge funds.

Shares of Fortive (NYSE:FTV) traded up $0.76 during trading hours on Friday, hitting $74.47. 1,283,230 shares of the company’s stock were exchanged, compared to its average volume of 1,313,222. Fortive has a 1-year low of $53.59 and a 1-year high of $75.69. The stock has a market cap of $25,880.00 and a PE ratio of 28.10. The company has a quick ratio of 1.54, a current ratio of 1.95 and a debt-to-equity ratio of 1.06.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the company posted $0.65 EPS. The business’s revenue was up 7.4% on a year-over-year basis. equities research analysts forecast that Fortive will post 2.85 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, November 24th were paid a $0.07 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. Fortive’s payout ratio is currently 10.57%.

Several equities analysts recently weighed in on FTV shares. SunTrust Banks reaffirmed a “buy” rating and set a $81.00 target price on shares of Fortive in a research note on Friday, October 27th. Citigroup raised their target price on shares of Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $70.00 target price on shares of Fortive in a research note on Wednesday, October 11th. Argus raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, BMO Capital Markets started coverage on shares of Fortive in a research note on Wednesday, November 15th. They set an “outperform” rating and a $82.00 target price for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Fortive has an average rating of “Hold” and an average price target of $71.45.

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Fortive Company Profile

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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