Whittier Trust Co. of Nevada Inc. Buys 8,456 Shares of Fortive Co. (NYSE:FTV)

by · The Markets Daily

Whittier Trust Co. of Nevada Inc. raised its stake in Fortive Co. (NYSE:FTV – Free Report) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,381 shares of the technology company’s stock after acquiring an additional 8,456 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Fortive were worth $11,054,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FTV. Whipplewood Advisors LLC bought a new stake in shares of Fortive during the fourth quarter worth $31,000. Versant Capital Management Inc grew its holdings in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive during the fourth quarter worth $37,000. Albion Financial Group UT bought a new stake in shares of Fortive during the fourth quarter worth $38,000. Finally, Dakota Community Bank & Trust NA grew its holdings in shares of Fortive by 28.6% during the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after purchasing an additional 175 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock valued at $19,508,529 over the last 90 days. 1.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Citigroup cut 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 report on Monday, December 9th. Truist Financial raised their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Barclays decreased their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

Check Out Our Latest Stock Analysis on Fortive

Fortive Trading Down 0.8 %

NYSE:FTV opened at $74.66 on Friday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The business’s 50-day moving average price is $78.66 and its two-hundred day moving average price is $76.83. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV – Get Free Report) last released its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the business earned $0.98 EPS. On average, equities analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is currently 13.56%.

Fortive Company Profile

(Free Report)

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.

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