Fortive Co. (NYSE:FTV) Stock Holdings Lifted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its position in shares of Fortive Co. (NYSE:FTV) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,340 shares of the technology company’s stock after acquiring an additional 339 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Fortive were worth $540,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Fortive in the 3rd quarter worth approximately $25,000. Cornerstone Planning Group LLC purchased a new stake in shares of Fortive during the third quarter worth $28,000. Cetera Trust Company N.A purchased a new position in Fortive in the fourth quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Fortive in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Fortive during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the sale, the chief accounting officer now directly owns 20,564 shares in the company, valued at approximately $1,689,743.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tamara S. Newcombe sold 5,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,937 shares of company stock worth $5,475,122. Corporate insiders own 0.95% of the company’s stock.

Fortive Stock Down 0.0 %

Shares of FTV stock opened at $76.08 on Monday. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The stock has a fifty day moving average price of $82.94 and a 200 day moving average price of $76.18. The stock has a market cap of $26.78 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15.

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

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s payout ratio is presently 12.65%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FTV. Mizuho increased their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Wells Fargo & Company reduced their price objective on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Truist Financial began coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price on the stock. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Barclays boosted their target price on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive has an average rating of “Hold” and a consensus price target of $86.46.

Fortive 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.