Vestmark Advisory Solutions Inc. Grows Stock Position in Fortive Co. (NYSE:FTV)

Vestmark Advisory Solutions Inc. increased its position in shares of Fortive Co. (NYSE:FTV) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,431 shares of the technology company’s stock after purchasing an additional 358 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Fortive were worth $253,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in FTV. abrdn plc grew its position in shares of Fortive by 2.9% in the third quarter. abrdn plc now owns 165,769 shares of the technology company’s stock valued at $12,293,000 after purchasing an additional 4,660 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Fortive by 34.2% in the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after acquiring an additional 134,259 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings 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 worth $61,326,000 after acquiring an additional 35,688 shares during the period. NewEdge Wealth LLC boosted its position 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 acquiring an additional 531 shares during the last quarter. Finally, Jennison Associates LLC grew its stake 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 institutional investors and hedge funds.

Analyst Ratings Changes

FTV has been the topic of several analyst reports. Citigroup reduced 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. Mizuho upped their price target on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Wells Fargo & Company decreased their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Finally, Royal Bank of Canada dropped their price target on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.46.

Insider Transactions at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 55,017 shares of the company’s stock, valued at $4,676,445. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at $1,689,743.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,937 shares of company stock worth $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive Stock Up 0.0 %

Shares of NYSE:FTV opened at $77.01 on Wednesday. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The firm’s 50 day moving average price is $82.58 and its 200 day moving average price is $76.27. The stock has a market cap of $27.11 billion, a price-to-earnings ratio of 30.44, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, equities research analysts predict that Fortive Co. will post 3.81 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

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.