Tidal Investments LLC Increases Position in Fortive Co. (NYSE:FTV)

Tidal Investments LLC increased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 286.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,876 shares of the technology company's stock after buying an additional 47,363 shares during the quarter. Tidal Investments LLC's holdings in Fortive were worth $4,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. grew its stake in Fortive by 5.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock worth $192,000 after buying an additional 127 shares during the last quarter. Dynasty Wealth Management LLC grew its stake in Fortive by 1.0% during the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after buying an additional 142 shares during the last quarter. Manchester Capital Management LLC grew its stake in Fortive by 13.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock worth $105,000 after buying an additional 165 shares during the last quarter. Webster Bank N. A. grew its stake in Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock worth $202,000 after buying an additional 168 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Fortive by 1.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 13,628 shares of the technology company's stock worth $1,022,000 after buying an additional 168 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Price Performance

Shares of Fortive stock opened at $71.88 on Wednesday. The business has a 50 day simple moving average of $69.74 and a two-hundred day simple moving average of $74.88. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.32. The stock has a market capitalization of $24.43 billion, a P/E ratio of 30.46, a PEG ratio of 2.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The business's revenue was down 3.3% compared to the same quarter last year. As a group, analysts predict 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 dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. Fortive's payout ratio is currently 14.04%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FTV shares. BNP Paribas downgraded Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research note on Wednesday, April 9th. Wells Fargo & Company boosted their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. 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. Robert W. Baird decreased their price objective on Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.92.

Insider Buying and Selling at Fortive

In other news, CEO James A. Lico sold 175,000 shares of the company's stock in a transaction that occurred 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 directly owns 428,585 shares in the company, valued at $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter C. Underwood sold 14,327 shares of the company's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 432,712 shares of company stock valued at $33,237,008 over the last quarter. 1.01% of the stock is currently owned by insiders.

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.

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