Brighton Jones LLC Grows Stake in Fortive Co. (NYSE:FTV)

Brighton Jones LLC increased its holdings in shares of Fortive Co. (NYSE:FTV) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,441 shares of the technology company’s stock after buying an additional 250 shares during the period. Brighton Jones LLC’s holdings in Fortive were worth $253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTV. Kestra Private Wealth Services LLC boosted its holdings in Fortive by 19.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 5,609 shares of the technology company’s stock valued at $413,000 after purchasing an additional 918 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Fortive by 18.8% in the 4th quarter. Van ECK Associates Corp now owns 41,228 shares of the technology company’s stock worth $3,036,000 after acquiring an additional 6,517 shares during the last quarter. Gitterman Wealth Management LLC acquired a new position in shares of Fortive in the 4th quarter worth approximately $251,000. IMA Wealth Inc. lifted its holdings in shares of Fortive by 4.7% in the 4th quarter. IMA Wealth Inc. now owns 12,778 shares of the technology company’s stock worth $941,000 after acquiring an additional 572 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Fortive by 1.4% in the 4th quarter. Truist Financial Corp now owns 134,896 shares of the technology company’s stock worth $9,932,000 after acquiring an additional 1,861 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now owns 36,558 shares in the company, valued at approximately $3,162,267. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the sale, the senior vice president now owns 36,558 shares in the company, valued at approximately $3,162,267. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,937 shares of company stock valued at $5,475,122. Corporate insiders own 0.95% of the company’s stock.

Fortive Price Performance

Shares of FTV stock opened at $76.08 on Friday. The stock’s fifty day moving average is $83.14 and its 200-day moving average is $76.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. The stock has a market capitalization of $26.78 billion, a PE ratio of 30.07, a PEG ratio of 2.22 and a beta of 1.15. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Equities research analysts expect that Fortive Co. will post 3.81 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FTV shares. Mizuho upped their price objective on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial assumed coverage on shares of Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Finally, Royal Bank of Canada cut their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 25th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.46.

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.