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

NewEdge Wealth LLC raised its holdings in Fortive Co. (NYSE:FTV) by 12.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,816 shares of the technology company’s stock after acquiring an additional 531 shares during the quarter. NewEdge Wealth LLC’s holdings in Fortive were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. PCA Investment Advisory Services Inc. purchased a new stake in shares of Fortive in the second quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in Fortive in the third quarter worth approximately $25,000. Cornerstone Planning Group LLC acquired a new position in Fortive in the third quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in Fortive in the third quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in Fortive in the fourth quarter worth approximately $38,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Down 1.0 %

Shares of FTV stock opened at $80.20 on Thursday. The stock has a market cap of $28.18 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 2.57 and a beta of 1.13. The stock has a fifty day moving average price of $84.52 and a 200 day moving average price of $75.95. Fortive Co. has a one year low of $62.70 and a one year 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.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. Analysts predict that Fortive Co. will post 3.78 earnings per share for the current 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 paid a $0.08 dividend. 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%.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $90.00 in a report on Wednesday. Wells Fargo & Company increased their price target on Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Mizuho increased their price target on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, Barclays raised their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.54.

Insider Activity

In other news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was 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 directly owns 20,564 shares in the company, valued at $1,689,743.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was 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 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 Fortive stock in a transaction dated Friday, February 9th. The stock was 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 of the company’s stock, valued at $1,689,743.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,937 shares of company stock worth $5,475,122. 0.95% of the stock is owned by corporate insiders.

About Fortive

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.