Representative Thomas H. Kean, Jr. (R-New Jersey) recently bought shares of Fortive Co. NYSE: FTV. In a filing disclosed on December 16th, the Representative disclosed that they had bought between $1,001 and $15,000 in Fortive stock on November 4th. The trade occurred in the Representative's "KEAN FAMILY PARTNERSHIP" account.
Representative Thomas H. Kean, Jr. also recently made the following trade(s):
- Sold $1,001 - $15,000 in shares of Pernod Ricard OTCMKTS: PDRDF on 11/4/2024.
Fortive Stock Performance
Fortive stock traded down $2.07 during mid-day trading on Wednesday, hitting $73.66. 3,766,643 shares of the company's stock traded hands, compared to its average volume of 2,012,453. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The firm has a 50 day moving average price of $76.39 and a 200 day moving average price of $74.41. The company has a market cap of $25.56 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14.
Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Fortive Co. will post 3.85 EPS for the current year.
Fortive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive's dividend payout ratio is presently 12.75%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in FTV. Capital Performance Advisors LLP bought a new position in Fortive during the third quarter valued at about $25,000. Ridgewood Investments LLC acquired a new stake in Fortive during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the 2nd quarter valued at approximately $30,000. Goodman Advisory Group LLC bought a new position in shares of Fortive in the second quarter valued at $31,000. Finally, Pinnacle Bancorp Inc. lifted its position in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock valued at $33,000 after buying an additional 176 shares during the last quarter. 94.94% of the stock is owned by institutional investors.
Insider Buying and Selling at Fortive
In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares of the company's stock, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on FTV shares. Wolfe Research cut Fortive from an "outperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Argus reaffirmed a "hold" rating on shares of Fortive in a research note on Monday, November 18th. Mizuho raised shares of Fortive from a "neutral" rating to an "outperform" rating and increased their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Wells Fargo & Company dropped their price target on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley assumed coverage on Fortive in a research note on Friday, September 6th. They set an "overweight" rating and a $89.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Fortive currently has an average rating of "Moderate Buy" and a consensus target price of $86.73.
Get Our Latest Stock Report on FTV
About Representative Kean, Jr.
Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey's 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey's 7th Congressional District. He declared candidacy for the 2024 election. Kean has served as state Senate minority leader. He was a member of the New Jersey General Assembly from 2001 to 2003. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.
Fortive Company Profile
(
Get 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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