Headlands Technologies LLC Purchases 1,007 Shares of Fortive Co. (NYSE:FTV)

Headlands Technologies LLC increased its position in shares of Fortive Co. (NYSE:FTV) by 28.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,577 shares of the technology company’s stock after purchasing an additional 1,007 shares during the quarter. Headlands Technologies LLC’s holdings in Fortive were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Fortive in the fourth quarter valued at about $31,000. Versant Capital Management Inc boosted its holdings in Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust acquired a new position in shares of Fortive during the 4th quarter worth approximately $37,000. Albion Financial Group UT bought a new position in shares of Fortive during the fourth quarter worth approximately $38,000. Finally, Dakota Community Bank & Trust NA raised its position in shares of Fortive by 28.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after buying an additional 175 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

Shares of Fortive stock opened at $64.00 on Friday. The company’s 50 day moving average price is $77.39 and its two-hundred day moving average price is $76.84. The firm has a market capitalization of $21.78 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.68 and a beta of 1.16. Fortive Co. has a fifty-two week low of $63.26 and a fifty-two week high of $84.96. 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 (NYSE:FTV) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating 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. On average, equities analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s dividend payout ratio is currently 13.56%.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the transaction, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 in the last quarter. 1.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Barclays cut their price objective on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Truist Financial increased their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company upped their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $87.18.

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.