Victory Capital Management Inc. Has $10.60 Million Stock Position in Fortive Co. (NYSE:FTV)

Victory Capital Management Inc. boosted its position in Fortive Co. (NYSE:FTV – Get Rating) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,818 shares of the technology company’s stock after buying an additional 450 shares during the period. Victory Capital Management Inc.’s holdings in Fortive were worth $10,600,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FTV. Gradient Investments LLC acquired a new stake in Fortive in the fourth quarter valued at approximately $26,000. Kistler Tiffany Companies LLC grew its holdings in shares of Fortive by 317.0% during the fourth quarter. Kistler Tiffany Companies LLC now owns 417 shares of the technology company’s stock valued at $27,000 after buying an additional 317 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Fortive during the fourth quarter worth about $36,000. Baldwin Brothers LLC MA acquired a new stake in shares of Fortive in the 4th quarter worth about $39,000. Finally, General Partner Inc. acquired a new position in Fortive during the 4th quarter valued at about $39,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV opened at $63.80 on Thursday. Fortive Co. has a 52-week low of $52.47 and a 52-week high of $69.78. The stock’s 50-day simple moving average is $65.39 and its 200 day simple moving average is $66.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.72 and a current ratio of 0.93. The stock has a market capitalization of $22.56 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 2.53 and a beta of 1.14.

Fortive (NYSE:FTV – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.42 billion. Fortive had a net margin of 12.92% and a return on equity of 11.92%. Fortive’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Research analysts forecast that Fortive Co. will post 3.35 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, May 26th will be given a $0.07 dividend. The ex-dividend date is Thursday, May 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s dividend payout ratio (DPR) is presently 13.08%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Fortive from $77.00 to $78.00 in a research report on Thursday, April 27th. Vertical Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Monday, March 27th. Citigroup raised their price objective on Fortive from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Wells Fargo & Company dropped their price objective on Fortive from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 13th. Finally, StockNews.com began coverage on Fortive in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 3,249 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $67.75, for a total value of $220,119.75. Following the transaction, the senior vice president now directly owns 32,721 shares in the company, valued at approximately $2,216,847.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Fortive Profile

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Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.