Tower Research Capital LLC TRC Has $1.69 Million Stake in Fortive Co. (NYSE:FTV)

Tower Research Capital LLC TRC grew its position in Fortive Co. (NYSE:FTV - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,561 shares of the technology company's stock after acquiring an additional 8,660 shares during the period. Tower Research Capital LLC TRC's holdings in Fortive were worth $1,692,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FTV. MetLife Investment Management LLC grew its stake in Fortive by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 91,824 shares of the technology company's stock valued at $6,887,000 after buying an additional 704 shares during the last quarter. Norinchukin Bank The increased its stake in shares of Fortive by 12.3% during the fourth quarter. Norinchukin Bank The now owns 17,076 shares of the technology company's stock worth $1,281,000 after purchasing an additional 1,867 shares during the period. Bank of Nova Scotia Trust Co. lifted its holdings in Fortive by 8.4% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 51,338 shares of the technology company's stock worth $3,850,000 after purchasing an additional 3,965 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Fortive by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,788,595 shares of the technology company's stock valued at $209,152,000 after purchasing an additional 88,657 shares during the period. Finally, First Trust Advisors LP grew its holdings in Fortive by 59.5% in the 4th quarter. First Trust Advisors LP now owns 195,042 shares of the technology company's stock valued at $14,628,000 after buying an additional 72,787 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays cut their price objective on shares of Fortive from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada lifted their price objective on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, February 10th. Wells Fargo & Company upped their target price on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Truist Financial reduced their price objective on Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Fortive currently has an average rating of "Hold" and a consensus price target of $81.92.

Fortive Trading Up 3.2 %

FTV opened at $66.04 on Wednesday. The company's 50 day moving average price is $73.13 and its two-hundred day moving average price is $75.68. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.68 and a beta of 1.12. Fortive Co. has a fifty-two week low of $60.39 and a fifty-two week high of $83.32. 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 posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating 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 period in the prior year, the business earned $0.98 earnings per share. As a group, research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's payout ratio is presently 13.56%.

Insider Buying and Selling at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now directly owns 47,141 shares in the company, valued at $3,795,793.32. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by company 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.

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