Fortitude Family Office LLC Takes $38,000 Position in Fortive Co. (NYSE:FTV)

Fortitude Family Office LLC bought a new position in shares of Fortive Co. (NYSE:FTVFree Report) in the 4th quarter, Holdings Channel reports. The fund bought 515 shares of the technology company’s stock, valued at approximately $38,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Ronald Blue Trust Inc. lifted its position in shares of Fortive by 5.1% during the third quarter. Ronald Blue Trust Inc. now owns 2,865 shares of the technology company’s stock valued at $214,000 after purchasing an additional 138 shares in the last quarter. RFG Advisory LLC boosted its stake in shares of Fortive by 2.4% in the 3rd quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock worth $491,000 after buying an additional 153 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Fortive by 5.3% in the third quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock valued at $237,000 after acquiring an additional 160 shares in the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Fortive by 4.9% in the third quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock valued at $260,000 after acquiring an additional 165 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of Fortive by 21.8% during the first quarter. Zions Bancorporation N.A. now owns 977 shares of the technology company’s stock valued at $59,000 after acquiring an additional 175 shares during the last quarter. 95.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FTV has been the subject of several research analyst reports. Mizuho raised their target price on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Truist Financial initiated coverage on Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price on the stock. Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Fortive from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Six research 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 a consensus target price of $83.14.

Check Out Our Latest Stock Analysis on Fortive

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock worth $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV opened at $85.66 on Friday. The company has a 50 day moving average of $81.38 and a 200 day moving average of $74.89. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The stock has a market cap of $30.10 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.72 and a beta of 1.13. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10.

Fortive (NYSE:FTVGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the previous year, the business earned $0.88 EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, February 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.37%. Fortive’s dividend payout ratio (DPR) is presently 13.11%.

Fortive Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding FTV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fortive Co. (NYSE:FTVFree Report).

Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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