Fifth Third Wealth Advisors LLC Increases Stock Position in Fortive Co. (NYSE:FTV)

Fifth Third Wealth Advisors LLC increased its position in Fortive Co. (NYSE:FTV) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,085 shares of the technology company’s stock after buying an additional 195 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Fortive were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Fortive by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after purchasing an additional 46,704 shares during the period. Janus Henderson Group PLC increased its position in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after purchasing an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Fortive by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after buying an additional 103,530 shares in the last quarter. Finally, Select Equity Group L.P. grew its stake in Fortive by 6.8% during 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 buying an additional 168,368 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of research reports. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Royal Bank of Canada lowered their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Finally, Argus reissued a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Fortive has an average rating of “Moderate Buy” and an average price target of $86.45.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Fortive Stock Up 0.4 %

FTV stock opened at $79.00 on Friday. 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 firm has a 50 day simple moving average of $76.68 and a 200-day simple moving average of $74.81. The company has a market capitalization of $27.41 billion, a P/E ratio of 31.47, a PEG ratio of 1.92 and a beta of 1.14. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. On average, equities research analysts predict that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

About Fortive

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.