4,811 Shares in Fortive Corporation (NYSE:FTV) Acquired by Avantra Family Wealth Inc.

Avantra Family Wealth Inc. acquired a new position in Fortive Corporation (NYSE:FTV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,811 shares of the technology company's stock, valued at approximately $352,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its stake in shares of Fortive by 9.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company's stock worth $3,221,036,000 after acquiring an additional 3,810,997 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Fortive by 164.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company's stock worth $654,763,000 after acquiring an additional 5,429,566 shares during the period. Geode Capital Management LLC lifted its stake in shares of Fortive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company's stock worth $620,480,000 after acquiring an additional 103,015 shares during the period. Boston Partners lifted its stake in Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company's stock valued at $594,108,000 after buying an additional 166,123 shares during the period. Finally, Dodge & Cox acquired a new position in Fortive in the fourth quarter valued at approximately $583,493,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FTV shares. Robert W. Baird dropped their price target on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Truist Financial dropped their price target on Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Citigroup dropped their price target on Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada boosted their price target on Fortive from $78.00 to $79.00 and gave the company a "sector perform" rating in a research note on Monday, June 9th. Finally, Barclays restated an "overweight" rating and set a $86.00 price objective (up previously from $84.00) on shares of Fortive in a report on Tuesday, June 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Fortive presently has an average rating of "Moderate Buy" and a consensus target price of $82.62.

Fortive Trading Down 0.4%

NYSE FTV opened at $69.55 on Friday. The business has a 50 day moving average price of $69.75 and a 200-day moving average price of $73.99. Fortive Corporation has a 52 week low of $60.39 and a 52 week high of $83.32. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 2.89 and a beta of 1.11. The company has a quick ratio of 0.78, a current ratio of 0.99 and a debt-to-equity ratio of 0.29.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Fortive had a return on equity of 13.19% and a net margin of 12.90%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. Fortive's revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.32 annualized dividend and a yield of 0.46%. Fortive's dividend payout ratio (DPR) is currently 14.04%.

Fortive declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 27th that allows the company to repurchase 15,630,000 shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Fortive news, CEO James A. Lico sold 175,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $72.40, for a total value of $12,670,000.00. Following the completion of the transaction, the chief executive officer now owns 428,585 shares in the company, valued at $31,029,554. This represents a 28.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Peter C. Underwood sold 14,327 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $73.88, for a total value of $1,058,478.76. Following the completion of the transaction, the senior vice president now owns 51,750 shares of the company's stock, valued at $3,823,290. This trade represents a 21.68% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

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.

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