Cetera Trust Company N.A Buys Shares of 387 Fortive Co. (NYSE:FTV)

Cetera Trust Company N.A bought a new stake in shares of Fortive Co. (NYSE:FTV) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 387 shares of the technology company’s stock, valued at approximately $28,000.

Several other hedge funds have also recently added to or reduced their stakes in FTV. RFG Advisory LLC grew its holdings in shares of Fortive by 2.4% during the third quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock worth $491,000 after buying an additional 153 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Fortive by 5.3% during the third quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock worth $237,000 after buying an additional 160 shares in the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Fortive by 4.9% during the third quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock worth $260,000 after buying an additional 165 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Fortive by 17.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after acquiring an additional 167 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in shares of Fortive by 2.6% in the third quarter. Bahl & Gaynor Inc. now owns 7,433 shares of the technology company’s stock worth $551,000 after acquiring an additional 189 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the transaction, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by company insiders.

Fortive Stock Up 0.3 %

Shares of NYSE:FTV opened at $80.61 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. Fortive Co. has a 12-month low of $62.70 and a 12-month high of $87.10. The company has a fifty day simple moving average of $84.32 and a 200 day simple moving average of $76.13. The firm has a market cap of $28.32 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 2.45 and a beta of 1.13.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is 13.11%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FTV shares. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Mizuho lifted their price objective on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Truist Financial started coverage on shares of Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average price target of $86.54.

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.