Paragon Capital Management LLC Invests $34,000 in Fortive Corp (FTV)
Paragon Capital Management LLC bought a new stake in Fortive Corp (NYSE:FTV) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 409 shares of the technology company’s stock, valued at approximately $34,000.
Several other institutional investors also recently modified their holdings of FTV. Norges Bank acquired a new position in shares of Fortive in the 4th quarter valued at $246,463,000. Oregon Public Employees Retirement Fund boosted its stake in Fortive by 3,401.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,461,167 shares during the period. Gates Capital Management Inc. acquired a new stake in Fortive during the 4th quarter worth $53,836,000. Alpine Global Management LLC acquired a new stake in Fortive during the 3rd quarter worth $53,088,000. Finally, Deutsche Bank AG boosted its stake in Fortive by 79.0% during the 4th quarter. Deutsche Bank AG now owns 827,194 shares of the technology company’s stock worth $55,963,000 after purchasing an additional 365,059 shares during the period. Institutional investors and hedge funds own 85.08% of the company’s stock.
Shares of FTV traded up $0.16 during trading hours on Monday, reaching $87.82. The company had a trading volume of 726,285 shares, compared to its average volume of 1,461,943. The company has a quick ratio of 1.18, a current ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $29.33 billion, a PE ratio of 28.70, a P/E/G ratio of 2.05 and a beta of 1.14. Fortive Corp has a 12-month low of $62.89 and a 12-month high of $88.36.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.28 annualized dividend and a yield of 0.32%. Fortive’s dividend payout ratio (DPR) is currently 9.15%.
In other Fortive news, SVP Stacey A. Walker sold 1,783 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $81.87, for a total transaction of $145,974.21. Following the completion of the transaction, the senior vice president now directly owns 16,036 shares in the company, valued at approximately $1,312,867.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William W. Pringle sold 435 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $80.66, for a total transaction of $35,087.10. The disclosure for this sale can be found here. Insiders have sold a total of 5,964 shares of company stock valued at $486,847 over the last 90 days. 12.20% of the stock is currently owned by insiders.
A number of brokerages recently weighed in on FTV. Barclays increased their price target on shares of Fortive from $81.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. ValuEngine upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Credit Suisse Group reiterated a “neutral” rating and set a $78.00 price target (down previously from $86.00) on shares of Fortive in a research note on Thursday, January 3rd. Finally, TheStreet upgraded shares of Fortive from a “c” rating to a “b-” rating in a research note on Wednesday, January 30th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $85.90.
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Fortive Company Profile
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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