HB Wealth Management LLC Acquires 299 Shares of Fortive Co. (NYSE:FTV)

HB Wealth Management LLC raised its holdings in shares of Fortive Co. (NYSE:FTV) by 6.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,823 shares of the technology company’s stock after buying an additional 299 shares during the quarter. HB Wealth Management LLC’s holdings in Fortive were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FTV. Raymond James & Associates increased its stake in Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after acquiring an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of 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 purchasing an additional 226 shares during the period. First Hawaiian Bank increased its position in shares of Fortive by 197.0% during the 4th 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 last quarter. Principal Financial Group Inc. increased its position in shares of Fortive by 2.7% during the 3rd 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 last quarter. Finally, XTX Topco Ltd bought a new stake in Fortive in the third quarter worth $1,346,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Up 0.1 %

NYSE FTV opened at $80.27 on Friday. The company has a market capitalization of $27.85 billion, a PE ratio of 31.98, a P/E/G ratio of 2.17 and a beta of 1.14. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a fifty day moving average of $76.94 and a 200 day moving average of $74.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last announced its 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 net margin of 14.35% and a return on equity of 12.56%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Research analysts forecast that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s payout ratio is 12.75%.

Insider Activity

In related news, 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 sale, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Truist Financial raised their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company increased their target price on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada lowered their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.45.

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.