First Horizon Advisors Inc. Grows Position in Fortive Co. (NYSE:FTV)

First Horizon Advisors Inc. grew its position in Fortive Co. (NYSE:FTV) by 349.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,974 shares of the technology company’s stock after acquiring an additional 3,867 shares during the quarter. First Horizon Advisors Inc.’s holdings in Fortive were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Fortive during the third quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new position in shares of Fortive in the 2nd quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in shares of Fortive during the 2nd quarter valued at $30,000. Goodman Advisory Group LLC purchased a new stake in Fortive during the 2nd quarter worth $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in Fortive in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock valued at $14,261,051 in the last quarter. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FTV. Wells Fargo & Company reduced their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Truist Financial dropped their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Stock Up 1.9 %

Shares of Fortive stock opened at $78.42 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $75.85 and a 200 day moving average price of $74.18. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a market cap of $27.21 billion, a P/E ratio of 31.24, a P/E/G ratio of 2.05 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. On average, sell-side analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

About Fortive

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.