NewEdge Advisors LLC Acquires 7,196 Shares of Fortive Co. (NYSE:FTV)

NewEdge Advisors LLC lifted its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 10.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,157 shares of the technology company's stock after purchasing an additional 7,196 shares during the quarter. NewEdge Advisors LLC's holdings in Fortive were worth $5,787,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FTV. Sanctuary Advisors LLC increased its holdings in shares of Fortive by 33.4% during the third quarter. Sanctuary Advisors LLC now owns 17,303 shares of the technology company's stock valued at $1,357,000 after acquiring an additional 4,333 shares in the last quarter. World Investment Advisors LLC bought a new stake in Fortive during the 3rd quarter valued at $12,031,000. Wilmington Savings Fund Society FSB acquired a new position in Fortive during the third quarter worth $456,000. Tidal Investments LLC grew its holdings in shares of Fortive by 5.3% during the third quarter. Tidal Investments LLC now owns 16,513 shares of the technology company's stock valued at $1,303,000 after buying an additional 829 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Fortive during the third quarter worth about $854,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

FTV traded up $1.28 during trading hours on Thursday, hitting $68.34. The stock had a trading volume of 548,111 shares, compared to its average volume of 2,369,677. The stock has a market cap of $23.25 billion, a PE ratio of 28.94, a price-to-earnings-growth 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 $83.32. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company's fifty day simple moving average is $72.86 and its 200 day simple moving average is $75.62.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating 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 company earned $0.98 EPS. Equities analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

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

Wall Street Analysts Forecast Growth

FTV has been the topic of several recent research reports. BNP Paribas cut shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price target on the stock. in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price target on Fortive from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada lifted their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, February 10th. Finally, Citigroup dropped their price target on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Fortive presently has an average rating of "Hold" and a consensus price target of $81.92.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James A. Lico sold 196,117 shares of the business's stock in a transaction dated 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 owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is owned by company insiders.

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.