3,987 Shares in Fortive Co. (NYSE:FTV) Bought by Choate Investment Advisors

Choate Investment Advisors acquired a new position in Fortive Co. (NYSE:FTV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,987 shares of the technology company’s stock, valued at approximately $299,000.

Several other large investors also recently modified their holdings of the company. Flossbach Von Storch SE grew its holdings in shares of Fortive by 1.2% in the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company’s stock worth $892,743,000 after acquiring an additional 137,479 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after acquiring an additional 46,704 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Fortive by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after acquiring an additional 103,530 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Fortive by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,014,318 shares of the technology company’s stock worth $151,074,000 after acquiring an additional 49,529 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FTV shares. Royal Bank of Canada boosted their price target on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Truist Financial boosted their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Wells Fargo & Company boosted their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Finally, Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and cut their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Price Performance

Shares of Fortive stock opened at $74.71 on Tuesday. The stock’s 50-day simple moving average is $78.78 and its 200-day simple moving average is $76.86. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the company earned $0.98 EPS. As a group, analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 over the last ninety days. Company insiders own 1.01% 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.