Fortive Co. (NYSE:FTV) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp raised its stake in Fortive Co. (NYSE:FTV) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584,627 shares of the technology company’s stock after buying an additional 14,683 shares during the period. King Luther Capital Management Corp’s holdings in Fortive were worth $43,847,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI increased its holdings in Fortive by 57.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,791 shares of the technology company’s stock valued at $359,000 after buying an additional 1,749 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Fortive during the 4th quarter worth approximately $17,750,000. Amundi increased its stake in shares of Fortive by 22.4% during the 4th quarter. Amundi now owns 1,785,483 shares of the technology company’s stock worth $137,036,000 after purchasing an additional 326,652 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its stake in shares of Fortive by 6.0% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 12,420 shares of the technology company’s stock worth $932,000 after purchasing an additional 700 shares in the last quarter. Finally, Camden National Bank increased its stake in shares of Fortive by 90.6% during the 4th quarter. Camden National Bank now owns 5,303 shares of the technology company’s stock worth $398,000 after purchasing an additional 2,521 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FTV. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Barclays lowered their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial lifted their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus target price of $87.64.

Insiders Place Their Bets

In other Fortive news, CAO Christopher M. Mulhall sold 6,493 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the transaction, the chief accounting officer now owns 24,283 shares in the company, valued at $1,941,425.85. The trade was a 21.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the transaction, the senior vice president now owns 47,141 shares in the company, valued at $3,795,793.32. This represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 in the last quarter. 1.01% of the stock is owned by corporate insiders.

Fortive Stock Performance

NYSE:FTV opened at $74.91 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.68 and a beta of 1.16. The firm’s fifty day simple moving average is $78.94 and its 200 day simple moving average is $76.85. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

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

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date 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 is currently 13.56%.

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.