Albion Financial Group UT Purchases Shares of 505 Fortive Co. (NYSE:FTV)

Albion Financial Group UT acquired a new position in Fortive Co. (NYSE:FTV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 505 shares of the technology company’s stock, valued at approximately $38,000.

Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC lifted its stake in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after purchasing an additional 135 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after buying an additional 137 shares during the period. Patton Albertson Miller Group LLC lifted its stake in Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after acquiring an additional 150 shares in the last quarter. Andina Capital Management LLC boosted its holdings in Fortive by 3.4% during the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after acquiring an additional 152 shares during the period. Finally, Axiom Advisory LLC grew its position in Fortive by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock valued at $734,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Truist Financial raised their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and decreased their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Finally, UBS Group began coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.45.

Fortive Trading Down 0.6 %

NYSE:FTV opened at $80.22 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The stock has a market cap of $27.83 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.12 and a beta of 1.14. The stock has a 50-day simple moving average of $76.86 and a 200-day simple moving average of $74.95.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.