Voloridge Investment Management LLC Boosts Stock Position in Fortive Co. (NYSE:FTV)

Voloridge Investment Management LLC increased its stake in Fortive Co. (NYSE:FTV - Free Report) by 80.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,350,918 shares of the technology company's stock after buying an additional 600,875 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.39% of Fortive worth $101,319,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FTV. Parvin Asset Management LLC acquired a new stake in shares of Fortive in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new stake in Fortive during the 4th quarter valued at $31,000. Crews Bank & Trust acquired a new stake in Fortive during the 4th quarter valued at $37,000. Albion Financial Group UT acquired a new stake in Fortive during the 4th quarter valued at $38,000. Finally, Quarry LP lifted its holdings in Fortive by 229.6% during the 4th quarter. Quarry LP now owns 501 shares of the technology company's stock valued at $38,000 after purchasing an additional 349 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was 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 owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents 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 this link. Also, CEO James A. Lico sold 196,117 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares of the company's stock, valued at $42,509,043.38. This trade represents a 27.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 432,712 shares of company stock worth $33,237,008 over the last quarter. 1.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FTV. Truist Financial cut their price target on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Robert W. Baird cut their price target on Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. BNP Paribas downgraded Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price target for the company. in a report on Wednesday, April 9th. Wall Street Zen downgraded Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price target on Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Fortive has an average rating of "Moderate Buy" and an average price target of $81.92.

Fortive Price Performance

Shares of NYSE FTV traded down $0.46 during mid-day trading on Friday, reaching $69.69. The company had a trading volume of 3,464,227 shares, compared to its average volume of 2,541,438. The business's 50-day simple moving average is $69.49 and its 200 day simple moving average is $74.84. The firm 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. 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 Co. has a one year low of $60.39 and a one year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $1.47 billion for 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%. Fortive's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. On average, research analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm 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 of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. Fortive's payout ratio is currently 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.