Fortive Co. (NYSE:FTV) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC grew its stake in Fortive Co. (NYSE:FTV) by 80.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,350,918 shares of the technology company’s stock after purchasing an additional 600,875 shares during the period. Voloridge Investment Management LLC’s holdings in Fortive were worth $101,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brown Brothers Harriman & Co. increased its stake in shares of Fortive by 5.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company’s stock worth $192,000 after acquiring an additional 127 shares during the last quarter. Dynasty Wealth Management LLC increased its stake in shares of Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock worth $1,083,000 after acquiring an additional 142 shares during the last quarter. Manchester Capital Management LLC increased its stake in shares of Fortive by 13.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock worth $105,000 after acquiring an additional 165 shares during the last quarter. Webster Bank N. A. grew its holdings in shares of Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock worth $202,000 after purchasing an additional 168 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Fortive by 1.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 13,628 shares of the technology company’s stock worth $1,022,000 after purchasing an additional 168 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of Fortive stock opened at $72.71 on Tuesday. The business has a 50-day moving average of $69.74 and a 200 day moving average of $74.90. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.32. The stock has a market capitalization of $24.71 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the business posted $0.83 EPS. Fortive’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s payout ratio is presently 14.04%.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price target on Fortive from $73.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial lowered their price target on Fortive from $90.00 to $81.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Barclays lowered their price target on Fortive from $85.00 to $84.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.92.

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive 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 completion of the transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the transaction, the chief accounting officer now owns 24,283 shares of the company’s stock, valued at $1,941,425.85. The trade was a 21.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 432,712 shares of company stock worth $33,237,008. 1.01% of the stock is currently owned by company insiders.

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.