Crews Bank & Trust Takes Position in Fortive Co. (NYSE:FTV)

Crews Bank & Trust bought a new stake in Fortive Co. (NYSE:FTV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 499 shares of the technology company’s stock, valued at approximately $37,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Fortive by 15.0% during the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Fortive by 4.8% during 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 in the last quarter. First Hawaiian Bank raised its stake in shares of Fortive by 197.0% in the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 10,125 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Fortive by 2.7% in the third 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 in the last quarter. Finally, XTX Topco Ltd bought a new stake in Fortive during the third quarter worth $1,346,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTV has been the topic of several recent analyst reports. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Argus reaffirmed a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Barclays dropped their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. 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. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $86.45.

Insider Activity at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The stock was 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 owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.01% of the stock is currently owned by corporate insiders.

Fortive Price Performance

NYSE FTV opened at $81.28 on Friday. The company has a market cap of $28.20 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $77.62 and its two-hundred day simple moving average is $75.28. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the firm earned $0.85 EPS. Fortive’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts predict that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.