Geode Capital Management LLC Acquires 103,015 Shares of Fortive Co. (NYSE:FTV)

Geode Capital Management LLC boosted its stake in Fortive Co. (NYSE:FTV - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,294,930 shares of the technology company's stock after purchasing an additional 103,015 shares during the quarter. Geode Capital Management LLC owned about 2.39% of Fortive worth $620,480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI increased its position in shares of Fortive by 5.2% during the fourth quarter. National Bank of Canada FI now owns 190,659 shares of the technology company's stock worth $14,300,000 after acquiring an additional 9,415 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in Fortive by 10.3% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 71,908 shares of the technology company's stock valued at $5,393,000 after acquiring an additional 6,720 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Fortive by 12.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,717 shares of the technology company's stock valued at $1,104,000 after purchasing an additional 1,663 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Fortive during the 4th quarter valued at $136,794,000. Finally, Schroder Investment Management Group boosted its position in Fortive by 9.1% during the fourth quarter. Schroder Investment Management Group now owns 1,819,690 shares of the technology company's stock worth $136,550,000 after purchasing an additional 152,315 shares during the period. 94.94% of the stock is owned by institutional investors.

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Fortive Price Performance

FTV stock traded up $5.30 during midday trading on Wednesday, reaching $67.88. The company had a trading volume of 7,433,562 shares, compared to its average volume of 2,329,291. The firm has a 50-day moving average price of $75.83 and a 200-day moving average price of $76.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market capitalization of $23.10 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.68 and a beta of 1.12. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $84.03.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm earned $0.98 earnings per share. On average, research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, May 30th. Fortive's payout ratio is presently 13.56%.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. The trade was a 10.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher M. Mulhall sold 6,493 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the transaction, the chief accounting officer now owns 24,283 shares in the company, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock valued at $19,508,529 over the last three months. Insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FTV shares. Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday. Wells Fargo & Company lifted their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, February 10th. BNP Paribas lowered Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price objective on the stock. in a research note on Wednesday. Finally, Truist Financial cut their target price on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $83.33.

Fortive 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.