Quintet Private Bank Europe S.A. Raises Stock Holdings in Fortive Co. (NYSE:FTV)

Quintet Private Bank Europe S.A. boosted its stake in Fortive Co. (NYSE:FTV) by 4.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 317,369 shares of the technology company’s stock after acquiring an additional 13,901 shares during the period. Fortive comprises approximately 1.3% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 25th largest position. Quintet Private Bank Europe S.A.’s holdings in Fortive were worth $23,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Fortive in the 3rd quarter valued at about $25,000. Whipplewood Advisors LLC purchased a new stake in Fortive during the fourth quarter worth about $31,000. Versant Capital Management Inc increased its stake in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust purchased a new stake in Fortive during the fourth quarter worth about $37,000. Finally, Albion Financial Group UT purchased a new stake in Fortive during the fourth quarter worth about $38,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FTV shares. Wells Fargo & Company boosted their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Barclays cut their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Insider Activity at Fortive

In related news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the transaction, the chief executive officer now directly owns 528,851 shares of the company’s stock, valued at $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now directly owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,298 shares of company stock valued at $16,740,998 over the last three months. 1.01% of the stock is owned by corporate insiders.

Fortive Stock Up 0.2 %

FTV stock opened at $79.73 on Monday. The company’s 50 day moving average price is $78.70 and its 200 day moving average price is $76.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a market capitalization of $27.66 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.68 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 13.56%.

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.