Tidal Investments LLC Has $1.30 Million Stake in Fortive Co. (NYSE:FTV)

Tidal Investments LLC grew its position in Fortive Co. (NYSE:FTV) by 5.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,513 shares of the technology company’s stock after buying an additional 829 shares during the quarter. Tidal Investments LLC’s holdings in Fortive were worth $1,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after purchasing an additional 46,704 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Fortive by 3.1% during the 3rd 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 buying an additional 103,530 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after buying an additional 205,893 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Barclays lowered their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company cut their target price on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Morgan Stanley initiated coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.73.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the company’s 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 sale, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The stock was 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 owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was 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 corporate insiders.

Fortive Stock Performance

NYSE FTV opened at $73.66 on Thursday. The company has a market capitalization of $25.56 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.15 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. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The stock has a fifty day simple moving average of $76.32 and a 200 day simple moving average of $74.40.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping 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 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 company earned $0.85 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Sell-side analysts expect that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is currently 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.