Fortive Co. (NYSE:FTV) Shares Bought by Visionary Horizons LLC

Visionary Horizons LLC grew its holdings in shares of Fortive Co. (NYSE:FTV) by 26.4% during the fourth quarter, Holdings Channel reports. The firm owned 4,366 shares of the technology company’s stock after acquiring an additional 912 shares during the quarter. Visionary Horizons LLC’s holdings in Fortive were worth $327,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Raymond James & Associates increased its holdings in shares of Fortive by 15.0% in the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after acquiring an additional 51,690 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares during the period. First Hawaiian Bank increased its holdings in shares of Fortive by 197.0% in the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after acquiring an additional 10,795 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Fortive in the 3rd quarter worth about $1,346,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $79.12 on Friday. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $77.65 and a 200-day moving average of $75.37. The firm has a market cap of $27.45 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts forecast that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 12.75%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Barclays lowered their target price 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. Truist Financial raised their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada lowered their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.45.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.01% of the company’s stock.

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.