Jennison Associates LLC Purchases 1,545 Shares of Fortive Co. (NYSE:FTV)

Jennison Associates LLC lifted its position in Fortive Co. (NYSE:FTV) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 391,465 shares of the technology company’s stock after purchasing an additional 1,545 shares during the quarter. Jennison Associates LLC’s holdings in Fortive were worth $29,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Fortive in the 3rd quarter worth $25,000. Pinnacle Bancorp Inc. boosted its stake in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 176 shares during the period. Versant Capital Management Inc grew its position in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust bought a new stake in Fortive during the 4th quarter valued at approximately $37,000. Finally, Albion Financial Group UT purchased a new position in Fortive in the 4th quarter worth approximately $38,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Truist Financial lifted their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price objective on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.45.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.01% of the stock is owned by insiders.

Fortive Price Performance

NYSE:FTV opened at $80.08 on Wednesday. The firm has a market capitalization of $27.78 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The business has a 50 day simple moving average of $77.63 and a 200-day simple moving average of $75.26. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

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.