O Brien Greene & Co. Inc Buys 4,236 Shares of Fortive Co. (NYSE:FTV)

O Brien Greene & Co. Inc lifted its stake in shares of Fortive Co. (NYSE:FTV) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,430 shares of the technology company’s stock after purchasing an additional 4,236 shares during the period. Fortive accounts for 1.9% of O Brien Greene & Co. Inc’s holdings, making the stock its 24th biggest position. O Brien Greene & Co. Inc’s holdings in Fortive were worth $5,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FTV. Vanguard Personalized Indexing Management LLC raised its stake in Fortive by 5.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,400 shares of the technology company’s stock valued at $2,062,000 after acquiring an additional 1,349 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Fortive by 60.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 30,574 shares of the technology company’s stock valued at $2,266,000 after acquiring an additional 11,526 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Fortive by 16.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,487 shares of the technology company’s stock valued at $1,074,000 after acquiring an additional 2,001 shares during the period. Argent Trust Co raised its stake in Fortive by 2.3% in the 2nd quarter. Argent Trust Co now owns 15,811 shares of the technology company’s stock valued at $1,172,000 after acquiring an additional 348 shares during the period. Finally, Clearstead Trust LLC raised its stake in Fortive by 77.7% in the 2nd quarter. Clearstead Trust LLC now owns 1,299 shares of the technology company’s stock valued at $96,000 after acquiring an additional 568 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

FTV opened at $74.79 on Wednesday. The firm has a market cap of $26.33 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The business’s fifty day moving average is $72.32 and its 200-day moving average is $76.29.

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

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Activity at Fortive

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTV. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, September 5th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Mizuho upgraded 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 report on Friday, September 6th. Morgan Stanley initiated coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective on the stock. Finally, Truist Financial lowered their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.23.

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.