SVB Wealth LLC Buys Shares of 4,510 Fortive Co. (NYSE:FTV)

SVB Wealth LLC bought a new stake in shares of Fortive Co. (NYSE:FTV - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 4,510 shares of the technology company's stock, valued at approximately $338,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Hawaiian Bank grew its holdings in shares of Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock worth $1,145,000 after buying an additional 10,125 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after purchasing an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock worth $2,832,000 after purchasing an additional 7,829 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Fortive during the third quarter worth $1,346,000. Finally, Nordea Investment Management AB lifted its position in shares of Fortive by 23.9% during the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock worth $118,292,000 after purchasing an additional 303,788 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

Shares of Fortive stock traded down $0.62 during trading on Friday, reaching $76.58. The company's stock had a trading volume of 3,263,640 shares, compared to its average volume of 2,110,916. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The business's fifty day moving average price is $78.95 and its 200-day moving average price is $76.76. The firm has a market cap of $26.06 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. Fortive Co. has a one year low of $66.15 and a one year high of $87.10.

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Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates 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 firm earned $0.98 EPS. As a group, equities research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. Fortive's dividend payout ratio (DPR) is presently 13.56%.

Analyst Ratings Changes

FTV has been the subject of a number of research analyst reports. Citigroup lowered shares of Fortive from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. UBS Group assumed coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Finally, Truist Financial upped their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $87.64.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the sale, the senior vice president now directly owns 47,141 shares in the company, valued at $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock valued at $19,508,529 over the last three months. 1.01% of the stock is owned by corporate 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.