Fortive Co. (NYSE:FTV) Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB boosted its stake in Fortive Co. (NYSE:FTV) by 11.3% in the 4th quarter, Holdings Channel reports. The firm owned 37,731 shares of the technology company’s stock after buying an additional 3,839 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Fortive were worth $2,830,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FTV. Raymond James & Associates grew its stake in shares of Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares during the period. First Hawaiian Bank raised its stake in shares of Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock valued at $1,145,000 after purchasing an additional 10,125 shares during the period. Principal Financial Group Inc. raised its stake in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after purchasing an additional 10,795 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Fortive during the third quarter worth $1,346,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of NYSE FTV opened at $79.00 on Tuesday. 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 firm’s 50-day moving average price is $76.68 and its two-hundred day moving average price is $74.84. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The stock has a market capitalization of $27.41 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.92 and a beta of 1.14.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Analyst Ratings Changes

FTV has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research report on Friday. Finally, UBS Group started coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.45.

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.