Cibc World Markets Corp Has $4.12 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Cibc World Markets Corp boosted its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 15.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,896 shares of the technology company's stock after acquiring an additional 7,289 shares during the quarter. Cibc World Markets Corp's holdings in Fortive were worth $4,117,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FTV. Wedmont Private Capital increased its holdings in shares of Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock worth $252,000 after acquiring an additional 137 shares during the last quarter. Dynasty Wealth Management LLC boosted its position in Fortive by 1.0% during the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after purchasing an additional 142 shares during the period. Patton Albertson Miller Group LLC increased its holdings in shares of Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock valued at $699,000 after purchasing an additional 150 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Fortive by 13.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock valued at $105,000 after purchasing an additional 165 shares during the period. Finally, Webster Bank N. A. lifted its stake in shares of Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock worth $202,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Remove Ads

Fortive Price Performance

FTV stock traded up $1.13 during mid-day trading on Monday, hitting $75.92. The stock had a trading volume of 2,031,129 shares, compared to its average volume of 2,138,923. The firm has a fifty day simple moving average of $78.65 and a 200 day simple moving average of $76.90. The firm has a market capitalization of $25.83 billion, a P/E ratio of 32.17, a P/E/G ratio of 2.68 and a beta of 1.16. 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 52 week low of $66.15 and a 52 week high of $86.21.

Fortive (NYSE:FTV - Get Free Report) last announced 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 net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the business earned $0.98 EPS. As a group, research analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive's dividend payout ratio is currently 13.56%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTV. Royal Bank of Canada upped their price target on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, February 10th. Wells Fargo & Company upped their target price on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, February 10th. Truist Financial lifted their price target on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Citigroup lowered Fortive from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, Barclays dropped their target price on Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.64.

Insider Activity at Fortive

In related news, CEO James A. Lico sold 196,117 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the transaction, the chief executive officer now owns 528,851 shares of the company's stock, valued at $42,509,043.38. This represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher M. Mulhall sold 6,493 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock valued at $19,508,529 over the last ninety days. 1.01% of the stock is owned by corporate insiders.

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.