Worldquant Millennium Advisors LLC Makes New Investment in Fortive Co. (NYSE:FTV)

Worldquant Millennium Advisors LLC bought a new position in Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 278,249 shares of the technology company's stock, valued at approximately $20,869,000. Worldquant Millennium Advisors LLC owned 0.08% of Fortive at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new stake in shares of Fortive in the 4th quarter valued at about $26,000. Whipplewood Advisors LLC bought a new stake in Fortive in the fourth quarter valued at about $31,000. Crews Bank & Trust acquired a new position in shares of Fortive in the 4th quarter worth approximately $37,000. Albion Financial Group UT acquired a new position in shares of Fortive in the 4th quarter worth approximately $38,000. Finally, Quarry LP grew its position in shares of Fortive by 229.6% in the 4th quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after acquiring an additional 349 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Down 0.7%

Shares of FTV traded down $0.46 during midday trading on Friday, hitting $69.69. The stock had a trading volume of 3,464,227 shares, compared to its average volume of 2,536,032. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market cap of $23.69 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. Fortive Co. has a fifty-two week low of $60.39 and a fifty-two week high of $83.32. The business has a 50-day simple moving average of $69.49 and a two-hundred day simple moving average of $74.83.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data 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 quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. As a group, equities analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio is currently 14.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. Citigroup lowered their price objective on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Truist Financial lowered their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. BNP Paribas lowered Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research report on Wednesday, April 9th. Finally, Wall Street Zen 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $81.92.

Insider Activity at Fortive

In related news, CEO James A. Lico sold 196,117 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 528,851 shares in the company, valued at approximately $42,509,043.38. This represents a 27.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Peter C. Underwood sold 14,327 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $73.88, for a total value of $1,058,478.76. Following the completion of the transaction, the senior vice president now owns 51,750 shares in the company, valued at $3,823,290. This represents a 21.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 432,712 shares of company stock valued at $33,237,008. Insiders own 1.01% of the company's stock.

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.