Truist Financial Corp Purchases 1,849 Shares of Fortive Co. (NYSE:FTV)

Truist Financial Corp boosted its stake in shares of Fortive Co. (NYSE:FTVGet Rating) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,642 shares of the technology company’s stock after acquiring an additional 1,849 shares during the quarter. Truist Financial Corp’s holdings in Fortive were worth $7,558,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FTV. Fairfield Bush & CO. bought a new stake in Fortive during the first quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Fortive by 6.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,124,090 shares of the technology company’s stock worth $129,421,000 after acquiring an additional 127,093 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Fortive by 123.0% during the first quarter. Panagora Asset Management Inc. now owns 19,004 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 10,481 shares during the last quarter. Cibc World Market Inc. increased its stake in Fortive by 11.7% during the first quarter. Cibc World Market Inc. now owns 21,144 shares of the technology company’s stock worth $1,288,000 after acquiring an additional 2,217 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Fortive by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,693,658 shares of the technology company’s stock worth $103,217,000 after acquiring an additional 84,238 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on FTV. Morgan Stanley boosted their price objective on Fortive from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 27th. Wells Fargo & Company boosted their target price on Fortive from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday, January 5th. Citigroup boosted their target price on Fortive from $73.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, December 9th. Credit Suisse Group dropped their target price on Fortive from $79.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Thursday, October 20th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.46.

Fortive Stock Up 0.5 %

Shares of NYSE FTV opened at $66.12 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.73 and a current ratio of 0.94. The firm has a market capitalization of $23.39 billion, a price-to-earnings ratio of 34.62, a PEG ratio of 2.25 and a beta of 1.12. The stock has a 50 day moving average price of $65.71 and a 200 day moving average price of $62.98. Fortive Co. has a 52-week low of $52.47 and a 52-week high of $74.39.

Fortive (NYSE:FTVGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.44 billion. Fortive had a return on equity of 11.69% and a net margin of 12.22%. Sell-side analysts expect that Fortive Co. will post 3.12 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio is currently 14.66%.

Insiders Place Their Bets

In other Fortive news, CEO Patrick K. Murphy sold 32,788 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the sale, the chief executive officer now owns 62,929 shares in the company, valued at $4,314,412.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Fortive news, CEO Patrick K. Murphy sold 32,788 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the sale, the chief executive officer now owns 62,929 shares in the company, valued at $4,314,412.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 13,156 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $68.44, for a total value of $900,396.64. Following the transaction, the chief financial officer now directly owns 88,818 shares in the company, valued at $6,078,703.92. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Fortive Company Profile

(Get Rating)

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Intelligent Operating Solutions segment offers connected reliability tools; environment, health, safety, and quality enterprise software products; facility and asset lifecycle software; pre-construction planning and construction procurement solutions; ruggedized professional test tools; electric, pressure, and temperature calibration tools; and portable gas detection tools for a range of vertical end markets including manufacturing, process industries, healthcare, utilities and power, communications and electronics, and others.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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