Voloridge Investment Management LLC Raises Stake in Fortive Co. (NYSE:FTV)

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

A number of other large investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its position in Fortive by 5.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock valued at $192,000 after buying an additional 127 shares during the last quarter. Dynasty Wealth Management LLC boosted its position in Fortive by 1.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock valued at $1,083,000 after buying an additional 142 shares during the last quarter. Manchester Capital Management LLC boosted its position in Fortive by 13.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock valued at $105,000 after buying an additional 165 shares during the last quarter. Webster Bank N. A. lifted its holdings in Fortive by 6.6% in the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock valued at $202,000 after acquiring an additional 168 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in Fortive by 1.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 13,628 shares of the technology company's stock valued at $1,022,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Trading Down 0.7%

Shares of FTV stock opened at $72.71 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 2.68 and a beta of 1.10. The stock has a 50 day simple moving average of $69.74 and a 200-day simple moving average of $74.90. Fortive Co. has a 1-year low of $60.39 and a 1-year high of $83.32.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $0.83 EPS. The firm's revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts expect 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. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio is currently 14.04%.

Analyst Ratings Changes

A number of research analysts have issued reports on FTV shares. Robert W. Baird decreased 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. Citigroup decreased their price target on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Truist Financial decreased 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. StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Royal Bank of Canada boosted their price target on Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of "Moderate Buy" and an average target price of $81.92.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now directly owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. This represents a 10.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James A. Lico sold 175,000 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $72.40, for a total value of $12,670,000.00. Following the completion of the transaction, the chief executive officer now directly owns 428,585 shares of the company's stock, valued at approximately $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,712 shares of company stock valued at $33,237,008. 1.01% of the stock is owned by insiders.

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.

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