157,085 Shares in Fortive Co. (NYSE:FTV) Purchased by Sone Capital Management LLC

Sone Capital Management LLC purchased a new position in shares of Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 157,085 shares of the technology company's stock, valued at approximately $11,781,000. Fortive comprises approximately 1.5% of Sone Capital Management LLC's investment portfolio, making the stock its 18th largest holding.

Several other hedge funds also recently modified their holdings of FTV. Fifth Third Wealth Advisors LLC boosted its stake in shares of Fortive by 6.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,085 shares of the technology company's stock worth $231,000 after purchasing an additional 195 shares during the last quarter. HB Wealth Management LLC increased its stake in Fortive by 6.6% in the fourth quarter. HB Wealth Management LLC now owns 4,823 shares of the technology company's stock valued at $362,000 after purchasing an additional 299 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in Fortive by 2.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 13,011 shares of the technology company's stock valued at $976,000 after purchasing an additional 282 shares during the last quarter. Guinness Asset Management LTD increased its stake in Fortive by 3.3% in the fourth quarter. Guinness Asset Management LTD now owns 7,041 shares of the technology company's stock valued at $528,000 after purchasing an additional 225 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Fortive by 11.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 37,731 shares of the technology company's stock valued at $2,830,000 after purchasing an additional 3,839 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO James A. Lico sold 175,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the completion of the sale, the chief executive officer now directly owns 428,585 shares of the company's stock, valued at approximately $31,029,554. This trade represents a 28.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher M. Mulhall sold 6,493 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares of the company's stock, valued at approximately $1,941,425.85. The trade was a 21.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 432,712 shares of company stock worth $33,237,008 over the last quarter. 1.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FTV shares. Royal Bank of Canada upped their target price on Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Citigroup dropped their target price on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Truist Financial decreased their price target on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Barclays decreased their price target on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company lifted their price target on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Fortive presently has an average rating of "Moderate Buy" and a consensus price target of $81.92.

Fortive Trading Down 0.7%

FTV traded down $0.46 on Friday, reaching $69.69. 3,464,227 shares of the company's stock were exchanged, compared to its average volume of 2,536,032. The company's 50 day moving average is $69.49 and its 200-day moving average is $74.83. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.68 and a beta of 1.10. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's dividend payout ratio is presently 14.04%.

Fortive Company 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.