Jefferies Financial Group Inc. Invests $1.03 Million in Fortive Co. (NYSE:FTV)

Jefferies Financial Group Inc. bought a new position in shares of Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,745 shares of the technology company's stock, valued at approximately $1,031,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new stake in shares of Fortive in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Fortive in the fourth quarter valued at approximately $31,000. Crews Bank & Trust acquired a new stake in shares of Fortive in the fourth quarter valued at approximately $37,000. Quarry LP grew its position in shares of Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after purchasing an additional 349 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in Fortive during the fourth quarter worth approximately $59,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTV has been the topic of a number of analyst reports. Robert W. Baird decreased their target price on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Citigroup decreased their target price on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company raised their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, February 10th. BNP Paribas lowered shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research report on Wednesday, April 9th. Finally, Wall Street Zen downgraded shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.92.

Insider Activity

In related news, CEO James A. Lico sold 175,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the completion of the sale, the chief executive officer now directly owns 428,585 shares of the company's stock, valued at approximately $31,029,554. This trade represents a 28.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $73.88, for a total transaction of $1,058,478.76. Following the sale, the senior vice president now directly owns 51,750 shares of the company's stock, valued at approximately $3,823,290. The trade was a 21.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company's stock.

Fortive Trading Up 0.1%

Shares of FTV stock traded up $0.05 during mid-day trading on Monday, reaching $70.24. The company's stock had a trading volume of 3,214,118 shares, compared to its average volume of 2,587,774. The company's 50 day simple moving average is $68.92 and its 200-day simple moving average is $74.63. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $23.87 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $0.83 EPS. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio is presently 14.04%.

Fortive announced that its board has authorized a share buyback plan on Tuesday, May 27th that permits the company to buyback 15,630,000 shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Fortive Company 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.