MassMutual Private Wealth & Trust FSB Grows Holdings in Fortive Co. (NYSE:FTV)

MassMutual Private Wealth & Trust FSB grew its holdings in Fortive Co. (NYSE:FTV - Free Report) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,731 shares of the technology company's stock after acquiring an additional 3,839 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Fortive were worth $2,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Fortive in the third quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the second quarter worth about $31,000. Pinnacle Bancorp Inc. grew its holdings in Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock worth $33,000 after acquiring an additional 176 shares during the period. Versant Capital Management Inc grew its holdings in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock worth $34,000 after acquiring an additional 297 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in Fortive in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares of the company's stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FTV shares. Truist Financial raised their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Citigroup cut shares of Fortive from a "buy" rating to a "neutral" rating and cut their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Barclays dropped their target price on Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Argus reiterated a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.45.

Fortive Price Performance

Shares of NYSE:FTV traded up $1.88 during trading on Tuesday, reaching $80.79. The stock had a trading volume of 2,452,688 shares, compared to its average volume of 2,278,241. The business has a fifty day moving average price of $76.74 and a 200-day moving average price of $74.89. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a market cap of $28.03 billion, a PE ratio of 32.19, a PEG ratio of 2.12 and a beta of 1.14.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. On average, equities analysts forecast that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, November 29th. Fortive's dividend payout ratio is currently 12.75%.

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.