Polianta Ltd Invests $1.23 Million in Fortive Corporation $FTV

Polianta Ltd purchased a new stake in shares of Fortive Corporation (NYSE:FTV) in the 3rd quarter, Holdings Channel reports. The fund purchased 25,200 shares of the technology company’s stock, valued at approximately $1,234,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in Fortive by 97.1% in the fourth quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after buying an additional 2,811 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Fortive by 38.3% in the 1st quarter. Ameriprise Financial Inc. now owns 761,405 shares of the technology company’s stock valued at $55,717,000 after acquiring an additional 211,036 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Fortive by 23.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,918 shares of the technology company’s stock valued at $653,000 after purchasing an additional 1,697 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Fortive during the 1st quarter worth approximately $16,539,000. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Fortive by 10.0% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 79,072 shares of the technology company’s stock valued at $5,786,000 after purchasing an additional 7,164 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the sale, the senior vice president owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FTV has been the topic of several research analyst reports. Robert W. Baird upped their target price on Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Fortive to a “hold” rating in a research note on Friday, September 5th. Weiss Ratings raised shares of Fortive from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Barclays upped their target price on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.85.

Fortive Stock Performance

NYSE FTV opened at $54.96 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The company has a market capitalization of $17.46 billion, a P/E ratio of 31.41, a P/E/G ratio of 3.34 and a beta of 1.13. The company has a fifty day moving average of $52.29 and a 200-day moving average of $52.59. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32.

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

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio is currently 13.71%.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.