Vestmark Advisory Solutions Inc. Acquires Shares of 11,238 Fortive Corporation $FTV

Vestmark Advisory Solutions Inc. acquired a new position in shares of Fortive Corporation (NYSE:FTV) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,238 shares of the technology company’s stock, valued at approximately $586,000.

Several other hedge funds and other institutional investors also recently modified their holdings of FTV. Savant Capital LLC lifted its position in shares of Fortive by 30.2% during the second quarter. Savant Capital LLC now owns 25,502 shares of the technology company’s stock worth $1,329,000 after purchasing an additional 5,912 shares during the last quarter. SouthState Corp raised its stake in Fortive by 42.0% during the second quarter. SouthState Corp now owns 29,809 shares of the technology company’s stock valued at $1,554,000 after buying an additional 8,819 shares in the last quarter. Andra AP fonden acquired a new stake in Fortive during the second quarter valued at approximately $57,000. Resona Asset Management Co. Ltd. lifted its holdings in Fortive by 4.7% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 116,330 shares of the technology company’s stock worth $6,424,000 after buying an additional 5,252 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Fortive in the 2nd quarter worth approximately $957,000. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV opened at $51.83 on Wednesday. The firm’s 50 day moving average is $49.22 and its two-hundred day moving average is $56.19. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $16.46 billion, a P/E ratio of 29.62, a PEG ratio of 3.09 and a beta of 1.16. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32.

Fortive (NYSE:FTV) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. The company had revenue of $1.07 billion during the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. Analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is presently 13.71%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FTV. Royal Bank Of Canada dropped their price target on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 31st. Barclays boosted their target price on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Truist Financial reissued a “hold” rating and issued a $58.00 target price (up previously from $55.00) on shares of Fortive in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $59.29.

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.