Vinva Investment Management Ltd Grows Stake in Fortive Co. (NYSE:FTV)

Vinva Investment Management Ltd boosted its position in Fortive Co. (NYSE:FTV) by 14.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,375 shares of the technology company’s stock after purchasing an additional 1,720 shares during the period. Vinva Investment Management Ltd’s holdings in Fortive were worth $1,004,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital increased its stake in Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after purchasing an additional 137 shares in the last quarter. Dynasty Wealth Management LLC increased its position in Fortive by 1.0% during the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock worth $1,083,000 after buying an additional 142 shares in the last quarter. Patton Albertson Miller Group LLC increased its position in Fortive by 1.7% during the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after buying an additional 150 shares in the last quarter. Manchester Capital Management LLC increased its position in Fortive by 13.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock worth $105,000 after buying an additional 165 shares in the last quarter. Finally, Webster Bank N. A. increased its position in Fortive by 6.6% during the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock worth $202,000 after buying an additional 168 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortive news, CAO Christopher M. Mulhall sold 6,493 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This 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 quarter. 1.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FTV shares. Wells Fargo & Company raised their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup cut Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Fortive Price Performance

Shares of Fortive stock opened at $74.66 on Friday. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The stock has a market capitalization of $25.41 billion, a P/E ratio of 31.64, a PEG ratio of 2.68 and a beta of 1.16. 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 business’s fifty day moving average price is $78.66 and its 200 day moving average price is $76.83.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating 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 previous year, the company earned $0.98 EPS. As a group, research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

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 paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is presently 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.