11,000 Shares in Fortive Corp (FTV) Purchased by Abacus Planning Group Inc.
Abacus Planning Group Inc. purchased a new position in shares of Fortive Corp (NYSE:FTV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,000 shares of the technology company’s stock, valued at approximately $203,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baystate Wealth Management LLC grew its position in shares of Fortive by 837.8% during the 4th quarter. Baystate Wealth Management LLC now owns 347 shares of the technology company’s stock worth $25,000 after buying an additional 310 shares in the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Fortive by 104.6% during the 3rd quarter. Cornerstone Advisors Inc. now owns 309 shares of the technology company’s stock worth $26,000 after purchasing an additional 158 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Fortive by 3,401.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,533,529 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,461,167 shares during the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in shares of Fortive during the 4th quarter worth $50,000. Finally, Bremer Trust National Association purchased a new stake in shares of Fortive during the 4th quarter worth $51,000. 84.20% of the stock is currently owned by institutional investors and hedge funds.
Fortive stock opened at $82.64 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.45 and a quick ratio of 1.18. Fortive Corp has a one year low of $62.89 and a one year high of $88.34. The stock has a market capitalization of $27.48 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 22nd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Thursday, February 21st. Fortive’s dividend payout ratio (DPR) is presently 9.15%.
A number of brokerages recently weighed in on FTV. Zacks Investment Research cut Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Credit Suisse Group restated a “neutral” rating and set a $78.00 price objective (down from $86.00) on shares of Fortive in a research note on Thursday, January 3rd. TheStreet upgraded Fortive from a “c” rating to a “b-” rating in a research note on Wednesday, January 30th. William Blair restated a “market perform” rating on shares of Fortive in a research note on Tuesday, February 12th. Finally, Royal Bank of Canada restated a “hold” rating and set a $74.00 price objective on shares of Fortive in a research note on Wednesday, November 21st. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Fortive has a consensus rating of “Buy” and a consensus price target of $85.67.
In other news, insider William W. Pringle sold 435 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $80.66, for a total value of $35,087.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 1,783 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $81.87, for a total value of $145,974.21. Following the completion of the transaction, the senior vice president now directly owns 16,036 shares in the company, valued at $1,312,867.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,964 shares of company stock valued at $486,847. 12.20% of the stock is currently owned by company insiders.
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Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.
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