Chesley Taft & Associates LLC Has $6.32 Million Stake in Fortive Co. (NYSE:FTV)

Chesley Taft & Associates LLC raised its stake in Fortive Co. (NYSE:FTV) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,127 shares of the technology company’s stock after purchasing an additional 1,370 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Fortive were worth $6,324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of FTV. Rafferty Asset Management LLC lifted its holdings in Fortive by 5.3% during the fourth quarter. Rafferty Asset Management LLC now owns 29,481 shares of the technology company’s stock worth $2,171,000 after acquiring an additional 1,489 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Fortive by 6.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 17,957 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 1,082 shares during the period. American International Group Inc. boosted its holdings in shares of Fortive by 3.4% in the 4th quarter. American International Group Inc. now owns 96,377 shares of the technology company’s stock worth $7,096,000 after buying an additional 3,214 shares during the last quarter. Sei Investments Co. grew its position in Fortive by 1.1% during the fourth quarter. Sei Investments Co. now owns 681,630 shares of the technology company’s stock valued at $50,188,000 after buying an additional 7,636 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its holdings in Fortive by 3.9% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 30,734 shares of the technology company’s stock worth $2,263,000 after buying an additional 1,143 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other news, 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 transaction of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research analyst reports. Barclays boosted their target price on shares of Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Truist Financial lowered their target price on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Mizuho upgraded 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 note on Friday, September 6th. Finally, Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.75.

Fortive Trading Down 0.8 %

Fortive stock opened at $76.32 on Tuesday. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The business’s fifty day moving average is $72.92 and its 200 day moving average is $75.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The stock has a market capitalization of $26.87 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12.

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

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio 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.