Toronto Dominion Bank increased its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 186,113 shares of the technology company's stock after buying an additional 7,914 shares during the period. Toronto Dominion Bank owned 0.05% of Fortive worth $13,958,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of FTV. HB Wealth Management LLC raised its holdings in Fortive by 6.6% in the 4th quarter. HB Wealth Management LLC now owns 4,823 shares of the technology company's stock valued at $362,000 after acquiring an additional 299 shares in the last quarter. Ameritas Advisory Services LLC grew its position in shares of Fortive by 2.2% in the 4th quarter. Ameritas Advisory Services LLC now owns 13,011 shares of the technology company's stock valued at $976,000 after buying an additional 282 shares during the last quarter. Guinness Asset Management LTD grew its position in shares of Fortive by 3.3% in the 4th quarter. Guinness Asset Management LTD now owns 7,041 shares of the technology company's stock valued at $528,000 after buying an additional 225 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Fortive by 11.3% in the 4th 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 period. Finally, Sky Investment Group LLC lifted its stake in shares of Fortive by 0.7% in the 4th quarter. Sky Investment Group LLC now owns 41,558 shares of the technology company's stock valued at $3,117,000 after purchasing an additional 304 shares during the period. Institutional investors own 94.94% of the company's stock.
Fortive Stock Performance
NYSE FTV traded down $0.46 on Friday, hitting $69.69. 3,464,227 shares of the stock traded hands, compared to its average volume of 2,541,438. The business's fifty day moving average is $69.49 and its two-hundred day moving average is $74.84. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.32. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.68 and a beta of 1.10. 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 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. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. As a group, equities analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.
Fortive Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.32 annualized dividend and a yield of 0.46%. Fortive's payout ratio is 14.04%.
Insider Buying and Selling at Fortive
In related news, CAO Christopher M. Mulhall sold 6,493 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. The trade was a 21.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James A. Lico sold 196,117 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the transaction, the chief executive officer now owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. The trade was a 27.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 432,712 shares of company stock valued at $33,237,008. 1.01% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Truist Financial lowered their price objective on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. increased their price objective on Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Barclays decreased their price target on Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada increased their price target on Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.92.
Check Out Our Latest Report on Fortive
About Fortive
(
Free Report)
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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