Proficio Capital Partners LLC purchased a new position in Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 77,957 shares of the technology company's stock, valued at approximately $5,847,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Flossbach Von Storch SE boosted its position in Fortive by 1.2% in the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock valued at $892,743,000 after buying an additional 137,479 shares during the period. Geode Capital Management LLC grew its stake in Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company's stock worth $644,346,000 after purchasing an additional 46,704 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock worth $634,701,000 after purchasing an additional 977,428 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fortive by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company's stock valued at $271,851,000 after purchasing an additional 103,530 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Fortive by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,014,318 shares of the technology company's stock valued at $151,074,000 after purchasing an additional 49,529 shares in the last quarter. 94.94% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Citigroup lowered Fortive from a "buy" rating to a "neutral" rating and cut their price target for the company from $92.00 to $86.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. 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 report on Monday, February 10th. StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.64.
Check Out Our Latest Report on Fortive
Insiders Place Their Bets
In related news, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the sale, the chief accounting officer now owns 24,283 shares of the company's stock, valued at $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,385 shares of company stock valued at $19,508,529. Insiders own 1.01% of the company's stock.
Fortive Stock Down 0.8 %
Shares of FTV stock traded down $0.59 during trading hours on Thursday, reaching $74.66. 1,016,917 shares of the company's stock were exchanged, compared to its average volume of 2,130,447. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock's 50 day moving average is $78.70 and its 200-day moving average is $76.85. 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 $25.41 billion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 2.68 and a beta of 1.16.
Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the prior year, the business posted $0.98 EPS. Analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.
Fortive Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive's dividend payout ratio (DPR) is presently 13.56%.
Fortive Company Profile
(
Free Report)
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.
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