Fortive Co. (NYSE:FTV) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in Fortive Co. (NYSE:FTV) by 129.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 165,610 shares of the technology company’s stock after acquiring an additional 93,363 shares during the quarter. Federated Hermes Inc.’s holdings in Fortive were worth $12,272,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Indiana Trust & Investment Management CO purchased a new position in shares of Fortive in the 1st quarter valued at approximately $26,000. Advisors Asset Management Inc. acquired a new position in Fortive during the 1st quarter valued at approximately $32,000. Ridgewood Investments LLC acquired a new position in Fortive during the 2nd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive in the second quarter worth $30,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Fortive during the second quarter worth $34,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FTV. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday. Truist Financial cut their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Barclays upped their target price on Fortive from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $86.23.

Insider Activity

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 transaction 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of NYSE FTV opened at $73.72 on Tuesday. The company has a market capitalization of $25.95 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The company’s fifty day moving average price is $72.28 and its 200 day moving average price is $76.36. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10.

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

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

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.