Charles Schwab Investment Management Inc. boosted its position in Fortive Co. (NYSE:FTV - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,014,318 shares of the technology company's stock after purchasing an additional 49,529 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.58% of Fortive worth $151,074,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Fortive by 11.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,836 shares of the technology company's stock valued at $213,000 after buying an additional 282 shares during the period. Quintet Private Bank Europe S.A. lifted its holdings in Fortive by 4.6% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 317,369 shares of the technology company's stock valued at $23,803,000 after acquiring an additional 13,901 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Fortive by 23.2% during the 4th quarter. Jones Financial Companies Lllp now owns 5,869 shares of the technology company's stock valued at $440,000 after purchasing an additional 1,104 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Fortive in the 4th quarter worth approximately $358,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Fortive by 23.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,880 shares of the technology company's stock worth $216,000 after purchasing an additional 555 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
Fortive Stock Down 0.9 %
FTV stock traded down $0.70 during midday trading on Tuesday, reaching $74.22. The company had a trading volume of 2,944,073 shares, compared to its average volume of 2,122,222. The company has a 50 day moving average of $78.94 and a two-hundred day moving average of $76.85. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a market capitalization of $25.26 billion, a P/E ratio of 31.45, a PEG ratio of 2.68 and a beta of 1.16.
Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, equities research analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.
Fortive Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive's dividend payout ratio (DPR) is 13.56%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Argus restated a "hold" rating on shares of Fortive in a report on Monday, November 18th. Truist Financial lifted their target price on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Royal Bank of Canada upped their target price on Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a report on Monday, February 10th. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price target for the company. Finally, Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.64.
View Our Latest Research Report on Fortive
Insider Activity
In related news, CEO James A. Lico sold 196,117 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares of the company's stock, valued at $3,349,585.65. The trade was a 6.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is owned by corporate insiders.
About Fortive
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Free Report)
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.
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