Fortive Co. (NYSE:FTV) Shares Acquired by State of Wyoming

State of Wyoming boosted its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 425.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,716 shares of the technology company's stock after purchasing an additional 5,437 shares during the period. State of Wyoming's holdings in Fortive were worth $504,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Parvin Asset Management LLC purchased a new stake in shares of Fortive in the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Fortive in the 4th quarter valued at $31,000. Crews Bank & Trust purchased a new stake in shares of Fortive in the 4th quarter valued at $37,000. Albion Financial Group UT purchased a new stake in shares of Fortive in the 4th quarter valued at $38,000. Finally, Quarry LP boosted its holdings in shares of Fortive by 229.6% in the 4th quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after acquiring an additional 349 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

FTV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. BNP Paribas cut shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price for the company. in a research report on Wednesday, April 9th. Royal Bank of Canada increased their target price 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. Finally, Barclays cut their price objective on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $81.92.

Fortive Stock Performance

FTV traded down $0.46 during trading on Friday, hitting $69.69. The stock had a trading volume of 3,464,227 shares, compared to its average volume of 2,541,438. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The firm has a market capitalization of $23.69 billion, a P/E ratio of 29.53, a PEG ratio of 2.68 and a beta of 1.10. The company's 50-day moving average price is $69.49 and its 200 day moving average price is $74.84. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32.

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

Fortive Dividend Announcement

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

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 3,002 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now directly owns 42,373 shares of the company's stock, valued at approximately $3,349,585.65. This trade represents a 6.62% 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 in the last three months. Company insiders own 1.01% of the company's stock.

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.