Fortive Co. (NYSE:FTV) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC grew its stake in Fortive Co. (NYSE:FTV) by 12.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,816 shares of the technology company’s stock after buying an additional 531 shares during the period. NewEdge Wealth LLC’s holdings in Fortive were worth $355,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. abrdn plc boosted its holdings in shares of Fortive by 2.9% in the 3rd quarter. abrdn plc now owns 165,769 shares of the technology company’s stock valued at $12,293,000 after buying an additional 4,660 shares in the last quarter. Nordea Investment Management AB raised 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 buying an additional 134,259 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in 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 buying an additional 35,688 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Fortive by 21.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 302,334 shares of the technology company’s stock valued at $22,096,000 after purchasing an additional 53,598 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Fortive by 48.6% in the 3rd quarter. Citigroup Inc. now owns 441,404 shares of the technology company’s stock valued at $32,735,000 after purchasing an additional 144,283 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of NYSE FTV opened at $80.20 on Thursday. The company has a market cap of $28.18 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. The company has a 50-day simple moving average of $84.52 and a 200-day simple moving average of $75.95.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, equities analysts anticipate that Fortive Co. will post 3.78 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 13.11%.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock worth $5,475,122 over the last ninety days. 0.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FTV shares. Wells Fargo & Company increased their price target on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Citigroup increased their price target on shares of Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Truist Financial started coverage on shares of Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 price target for the company. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Finally, Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.54.

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.