Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 264 Shares of Fortive Co. (NYSE:FTV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Fortive Co. (NYSE:FTV) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,556 shares of the technology company’s stock after acquiring an additional 264 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Fortive were worth $1,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. abrdn plc raised its stake in Fortive by 2.9% in the 3rd quarter. abrdn plc now owns 165,769 shares of the technology company’s stock worth $12,293,000 after acquiring an additional 4,660 shares during the last quarter. Nordea Investment Management AB raised its stake in Fortive by 34.2% in the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after acquiring an additional 134,259 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in Fortive by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after acquiring an additional 35,688 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in Fortive by 21.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 302,334 shares of the technology company’s stock worth $22,096,000 after acquiring an additional 53,598 shares during the last quarter. Finally, NewEdge Wealth LLC raised its stake in Fortive by 12.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,816 shares of the technology company’s stock worth $355,000 after acquiring an additional 531 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTV. Barclays raised their target price on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Mizuho lifted their price objective on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Truist Financial began coverage on Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $86.54.

Fortive Price Performance

FTV stock traded up $0.49 during trading on Tuesday, hitting $80.85. The stock had a trading volume of 411,786 shares, compared to its average volume of 1,601,405. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. Fortive Co. has a twelve month low of $62.70 and a twelve month high of $87.10. The stock has a market capitalization of $28.41 billion, a P/E ratio of 32.93, a PEG ratio of 2.43 and a beta of 1.13. The company’s 50-day moving average price is $84.35 and its two-hundred day moving average price is $76.10.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $0.88 EPS. Fortive’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced 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 is Friday, May 31st. Fortive’s dividend payout ratio is currently 13.11%.

Insider Transactions at Fortive

In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares in the company, valued at $4,676,445. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock worth $5,475,122 in the last ninety days. Insiders own 0.95% of the company’s stock.

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.