Barrow Hanley Mewhinney & Strauss LLC Invests $136.79 Million in Fortive Co. (NYSE:FTV)

Barrow Hanley Mewhinney & Strauss LLC bought a new position in Fortive Co. (NYSE:FTV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,823,920 shares of the technology company's stock, valued at approximately $136,794,000. Barrow Hanley Mewhinney & Strauss LLC owned 0.53% of Fortive at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its position in Fortive by 5.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock worth $192,000 after purchasing an additional 127 shares during the period. Dynasty Wealth Management LLC grew its position in shares of Fortive by 1.0% during the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock valued at $1,083,000 after acquiring an additional 142 shares during the period. Manchester Capital Management LLC grew its position in shares of Fortive by 13.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock valued at $105,000 after acquiring an additional 165 shares during the period. Webster Bank N. A. grew its position in shares of Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock valued at $202,000 after acquiring an additional 168 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of Fortive by 1.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 13,628 shares of the technology company's stock valued at $1,022,000 after acquiring an additional 168 shares during the period. Institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FTV. Royal Bank of Canada boosted their price objective on shares of Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Citigroup dropped their target price on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Truist Financial dropped their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.92.

Insiders Place Their Bets

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James A. Lico sold 175,000 shares of the firm'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 sale, the chief executive officer now owns 428,585 shares of the company's stock, valued at approximately $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,595 shares of company stock worth $17,473,123 in the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

Fortive Price Performance

FTV stock traded up $1.13 during mid-day trading on Tuesday, hitting $70.80. The company had a trading volume of 5,320,223 shares, compared to its average volume of 2,932,275. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.68 and a beta of 1.10. Fortive Co. has a 12-month low of $60.38 and a 12-month high of $83.32. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $69.37 and a 200 day moving average price of $74.80.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's payout ratio is currently 14.04%.

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.