Vanguard Personalized Indexing Management LLC Acquires 1,349 Shares of Fortive Co. (NYSE:FTV)

Vanguard Personalized Indexing Management LLC grew its position in shares of Fortive Co. (NYSE:FTV) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,400 shares of the technology company’s stock after purchasing an additional 1,349 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fortive were worth $2,062,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FTV. Janus Henderson Group PLC lifted its stake in Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares during the last quarter. Boston Partners lifted its stake in Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. Kodai Capital Management LP bought a new stake in Fortive during the fourth quarter worth about $45,557,000. Nordea Investment Management AB lifted its stake in Fortive by 70.1% during the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after purchasing an additional 369,351 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Fortive by 27.4% during the second quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock worth $94,041,000 after purchasing an additional 273,168 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 1.2 %

FTV stock opened at $76.34 on Friday. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The business’s 50 day moving average price is $72.43 and its two-hundred day moving average price is $76.23. 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 has a market capitalization of $26.87 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

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

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio (DPR) is 12.65%.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on 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 directly 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.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FTV. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Thursday, September 5th. Truist Financial decreased 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. Morgan Stanley began coverage on Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective on the stock. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.23.

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.