Choate Investment Advisors Acquires Shares of 3,987 Fortive Co. (NYSE:FTV)

Choate Investment Advisors acquired a new position in shares of Fortive Co. (NYSE:FTV - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,987 shares of the technology company's stock, valued at approximately $299,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FTV. Wedmont Private Capital boosted its stake in shares of Fortive by 4.3% during the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock valued at $252,000 after purchasing an additional 137 shares in the last quarter. Dynasty Wealth Management LLC boosted its position in Fortive by 1.0% during the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after buying an additional 142 shares during the period. Patton Albertson Miller Group LLC boosted its position in Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock worth $699,000 after buying an additional 150 shares during the period. Atria Investments Inc grew its holdings in Fortive by 1.6% during the 3rd quarter. Atria Investments Inc now owns 10,591 shares of the technology company's stock worth $836,000 after acquiring an additional 163 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in Fortive by 13.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock valued at $105,000 after acquiring an additional 165 shares during the period. Institutional investors own 94.94% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FTV. Truist Financial lifted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their target price on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.64.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of the company's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares of the company's stock, valued at $3,795,793.32. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 in the last ninety days. Corporate insiders own 1.01% of the company's stock.

Fortive Stock Up 0.2 %

NYSE FTV traded up $0.18 on Friday, hitting $74.84. 4,733,325 shares of the company were exchanged, compared to its average volume of 2,145,185. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market cap of $25.47 billion, a PE ratio of 31.71, a PEG ratio of 2.68 and a beta of 1.16. The stock has a fifty day moving average of $78.66 and a 200-day moving average of $76.83. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

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, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, analysts forecast that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive's payout ratio is 13.56%.

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.