1,015 Shares in Fortive Co. (NYSE:FTV) Bought by Eastern Bank

Eastern Bank purchased a new position in shares of Fortive Co. (NYSE:FTV) in the third quarter, HoldingsChannel reports. The institutional investor purchased 1,015 shares of the technology company’s stock, valued at approximately $80,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Boston Partners boosted its position in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the period. Janus Henderson Group PLC boosted its position in Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares during the period. Dimensional Fund Advisors LP boosted its position in Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares during the period. Select Equity Group L.P. boosted its position in Fortive by 6.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after purchasing an additional 168,368 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in Fortive by 3.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after purchasing an additional 94,170 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Fortive Stock Performance

Shares of Fortive stock opened at $74.96 on Friday. The firm has a market cap of $26.39 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. Fortive Co. has a 1 year low of $63.50 and a 1 year high of $87.10. The firm’s 50-day simple moving average is $75.05 and its 200-day simple moving average is $74.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities analysts forecast that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 12.65%.

Analyst Ratings Changes

FTV has been the subject of a number of research reports. Morgan Stanley started coverage on shares of Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Truist Financial upped their price objective on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Thursday, September 5th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $87.36.

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.