Fortive Sees Unusually Large Options Volume (FTV)

Fortive Corp (NYSE:FTV) saw unusually large options trading activity on Monday. Traders acquired 591 call options on the company. This is an increase of 658% compared to the typical daily volume of 78 call options.

FTV has been the topic of a number of research reports. BMO Capital Markets initiated coverage on shares of Fortive in a research report on Wednesday, November 15th. They set an “outperform” rating and a $82.00 target price on the stock. Zacks Investment Research raised shares of Fortive from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, September 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $70.00 target price on shares of Fortive in a research report on Wednesday, October 11th. Citigroup reissued a “neutral” rating and set a $72.00 price objective (up from $65.00) on shares of Fortive in a report on Monday, October 9th. Finally, SunTrust Banks reissued a “buy” rating and set a $81.00 price objective on shares of Fortive in a report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $70.27.

Shares of Fortive (NYSE FTV) opened at $72.47 on Friday. The firm has a market cap of $25,210.00 and a P/E ratio of 27.35. Fortive has a one year low of $52.99 and a one year high of $75.69. 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 announced its earnings results on Thursday, October 26th. The technology company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.66 billion. Fortive had a net margin of 14.39% and a return on equity of 31.67%. Fortive’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. equities research analysts anticipate that Fortive will post 2.85 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 24th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive’s dividend payout ratio (DPR) is 10.57%.

In related news, insider James A. Lico sold 50,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total value of $3,657,000.00. Following the sale, the insider now directly owns 166,014 shares of the company’s stock, valued at approximately $12,142,263.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 4,775 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $72.49, for a total transaction of $346,139.75. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FTV. Vanguard Group Inc. lifted its stake in shares of Fortive by 3.1% during the second quarter. Vanguard Group Inc. now owns 20,614,201 shares of the technology company’s stock worth $1,305,909,000 after buying an additional 620,784 shares during the period. BlackRock Inc. lifted its stake in shares of Fortive by 11.7% during the second quarter. BlackRock Inc. now owns 18,488,658 shares of the technology company’s stock worth $1,171,255,000 after buying an additional 1,934,309 shares during the period. Capital World Investors lifted its stake in shares of Fortive by 37.9% during the second quarter. Capital World Investors now owns 9,834,197 shares of the technology company’s stock worth $622,996,000 after buying an additional 2,701,496 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Fortive by 41.2% during the second quarter. TIAA CREF Investment Management LLC now owns 3,330,651 shares of the technology company’s stock worth $210,997,000 after buying an additional 971,997 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Fortive by 13.6% during the second quarter. Franklin Resources Inc. now owns 2,370,300 shares of the technology company’s stock worth $150,158,000 after buying an additional 283,550 shares during the period. Institutional investors own 78.75% of the company’s stock.

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About Fortive

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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