Metis Global Partners LLC Raises Stake in Fortive Co. (NYSE:FTV)

Metis Global Partners LLC increased its holdings in Fortive Co. (NYSE:FTV) by 2.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,436 shares of the technology company’s stock after buying an additional 798 shares during the period. Metis Global Partners LLC’s holdings in Fortive were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FTV. abrdn plc raised its holdings in shares of Fortive by 2.9% during the third quarter. abrdn plc now owns 165,769 shares of the technology company’s stock worth $12,293,000 after purchasing an additional 4,660 shares during the last quarter. Nordea Investment Management AB grew its position in Fortive by 34.2% during the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after purchasing an additional 134,259 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in shares of Fortive by 4.5% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after buying an additional 35,688 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of Fortive by 12.4% during the 4th quarter. NewEdge Wealth LLC now owns 4,816 shares of the technology company’s stock valued at $355,000 after buying an additional 531 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Fortive by 111.7% in the 4th quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock valued at $86,637,000 after buying an additional 620,866 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the sale, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock worth $5,475,122 over the last three months. Insiders own 0.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FTV shares. Truist Financial began coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price on the stock. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Royal Bank of Canada decreased their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, April 25th. Citigroup dropped their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Mizuho upped their price objective on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $86.46.

Fortive Stock Up 0.2 %

FTV stock opened at $77.11 on Tuesday. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $82.76 and a 200-day simple moving average of $76.22. The stock has a market capitalization of $27.15 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.22 and a beta of 1.15.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Equities analysts forecast that Fortive Co. will post 3.81 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is 12.65%.

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.