Timber Creek Capital Management LLC Takes $5.41 Million Position in Fortive Corporation (NYSE:FTV)

Timber Creek Capital Management LLC bought a new position in shares of Fortive Corporation (NYSE:FTV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 73,893 shares of the technology company's stock, valued at approximately $5,407,000. Fortive comprises about 1.4% of Timber Creek Capital Management LLC's portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTV. Parvin Asset Management LLC acquired a new stake in shares of Fortive in the fourth quarter valued at $26,000. American National Bank & Trust purchased a new position in Fortive in the first quarter valued at $26,000. Global X Japan Co. Ltd. raised its position in shares of Fortive by 114.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 377 shares of the technology company's stock worth $28,000 after acquiring an additional 201 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Fortive in the fourth quarter valued at approximately $30,000. Finally, Quarry LP lifted its position in Fortive by 229.6% in the fourth 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.

Insider Activity

In other news, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $73.88, for a total transaction of $1,058,478.76. Following the completion of the sale, the senior vice president directly owned 51,750 shares of the company's stock, valued at $3,823,290. This trade represents a 21.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James A. Lico sold 175,000 shares of the business's stock in a transaction dated 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 sale, the chief executive officer owned 428,585 shares in the company, valued at approximately $31,029,554. The trade was a 28.99% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Fortive Stock Down 0.6%

NYSE:FTV traded down $0.33 on Friday, reaching $53.01. The stock had a trading volume of 2,484,750 shares, compared to its average volume of 2,738,491. The company has a 50-day moving average of $69.19 and a 200 day moving average of $73.08. The company has a current ratio of 0.99, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The stock has a market cap of $18.02 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 2.33 and a beta of 1.09. Fortive Corporation has a 12-month low of $50.00 and a 12-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 EPS for the quarter, hitting analysts' consensus estimates 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 period last year, the firm earned $0.83 earnings per share. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive announced that its Board of Directors has approved a stock buyback program 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. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTV. Citigroup dropped their price objective on shares of 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 raised their target price on Fortive from $78.00 to $79.00 and gave the company a "sector perform" rating in a report on Monday, June 9th. Barclays reissued an "overweight" rating and set a $86.00 price target (up previously from $84.00) on shares of Fortive in a research note on Tuesday, June 3rd. Truist Financial cut their price target on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird reduced their target price on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.08.

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.