Raymond James Financial Inc. Makes New Investment in Fortive Co. (NYSE:FTV)

Raymond James Financial Inc. bought a new stake in Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 298,822 shares of the technology company's stock, valued at approximately $22,412,000. Raymond James Financial Inc. owned about 0.09% of Fortive at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FTV. Flossbach Von Storch SE boosted its stake in shares of Fortive by 1.2% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $644,346,000 after acquiring an additional 46,704 shares during the period. Janus Henderson Group PLC boosted its position in shares of 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 in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock worth $315,720,000 after purchasing an additional 3,972,855 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 worth $271,851,000 after purchasing an additional 103,530 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Fortive Stock Performance

FTV stock traded up $0.86 on Wednesday, reaching $75.24. The company's stock had a trading volume of 992,185 shares, compared to its average volume of 2,553,497. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a market capitalization of $25.60 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The firm has a fifty day moving average of $78.73 and a two-hundred day moving average of $76.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

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, 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 last year, the firm posted $0.98 earnings per share. As a group, analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive's dividend payout ratio (DPR) is 13.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada upped their price target on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Barclays decreased their price objective on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial raised their target price on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.64.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 3,002 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James A. Lico sold 196,117 shares of the company's stock in a transaction 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 directly owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,385 shares of company stock valued at $19,508,529. 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.