Fortive Co. (NYSE:FTV) Holdings Lifted by Whittier Trust Co.

Whittier Trust Co. boosted its position in shares of Fortive Co. (NYSE:FTV) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 330,269 shares of the technology company’s stock after purchasing an additional 1,888 shares during the period. Whittier Trust Co.’s holdings in Fortive were worth $24,770,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FTV. Victory Capital Management Inc. boosted its position in Fortive by 1.5% during the third quarter. Victory Capital Management Inc. now owns 150,553 shares of the technology company’s stock valued at $11,883,000 after purchasing an additional 2,156 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Fortive in the third quarter worth about $426,000. Empowered Funds LLC lifted its position in shares of Fortive by 3.3% in the third quarter. Empowered Funds LLC now owns 5,410 shares of the technology company’s stock worth $427,000 after buying an additional 174 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Fortive by 1.7% in the third quarter. Natixis Advisors LLC now owns 43,593 shares of the technology company’s stock worth $3,441,000 after buying an additional 737 shares during the last quarter. Finally, SouthState Corp lifted its position in shares of Fortive by 3.2% in the third quarter. SouthState Corp now owns 15,666 shares of the technology company’s stock worth $1,237,000 after buying an additional 484 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 1.2 %

Shares of FTV opened at $75.24 on Thursday. The company has a market capitalization of $25.60 billion, a P/E ratio of 31.88, a PEG ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The business’s 50 day simple moving average is $78.70 and its 200-day simple moving average is $76.85.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, sell-side analysts predict 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, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is 13.56%.

Insiders Place Their Bets

In other 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 transaction, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This represents a 10.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of analyst reports. Barclays reduced their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Truist Financial lifted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada lifted their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.64.

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.