Whittier Trust Co. Buys 4,933 Shares of Fortive Co. (NYSE:FTV)

Whittier Trust Co. increased its position in Fortive Co. (NYSE:FTV) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,381 shares of the technology company’s stock after buying an additional 4,933 shares during the period. Whittier Trust Co. owned 0.09% of Fortive worth $25,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Fortive by 70.1% during the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Fortive by 104.3% in the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after buying an additional 188,415 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Fortive by 599.3% in the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock worth $4,520,000 after acquiring an additional 45,032 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Fortive by 6.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after acquiring an additional 17,225 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on FTV. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Barclays lifted their price objective on shares of Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Truist Financial increased their target price on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.36.

Insider Activity

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Fortive Price Performance

NYSE:FTV traded down $0.44 during midday trading on Monday, hitting $77.03. The company had a trading volume of 770,437 shares, compared to its average volume of 1,847,916. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $74.50 and its 200-day moving average price is $74.99. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The company has a market capitalization of $27.12 billion, a PE ratio of 30.40, a P/E/G ratio of 2.24 and a beta of 1.12.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts expect that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

About Fortive

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.