Truist Financial Corp Purchases 1,519 Shares of Fortive Co. (NYSE:FTV)

Truist Financial Corp grew its position in Fortive Co. (NYSE:FTV) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,068 shares of the technology company’s stock after acquiring an additional 1,519 shares during the quarter. Truist Financial Corp’s holdings in Fortive were worth $10,527,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners boosted its holdings in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after purchasing an additional 1,999,792 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fortive by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after purchasing an additional 205,893 shares during the period. Select Equity Group L.P. grew its holdings in shares of Fortive by 6.8% in the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after purchasing an additional 168,368 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Fortive by 3.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after buying an additional 94,170 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction 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 approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FTV. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research report on Friday, September 6th. Truist Financial dropped their price objective on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and lifted their target price for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Finally, Barclays raised their price target on Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.17.

Fortive Stock Performance

Shares of Fortive stock opened at $76.91 on Friday. The company has a market capitalization of $27.07 billion, a PE ratio of 30.40, a P/E/G ratio of 2.22 and a beta of 1.12. The company has a 50-day simple moving average of $72.92 and a two-hundred day simple moving average of $75.63. 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 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 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 firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $0.85 EPS. Fortive’s revenue was up 1.7% on a year-over-year basis. Research analysts expect that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s payout ratio is 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.