Fortive Co. (NYSE:FTV) Stock Position Lowered by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV decreased its position in Fortive Co. (NYSE:FTV) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,602 shares of the technology company’s stock after selling 750 shares during the quarter. Fortive comprises approximately 1.3% of Tandem Capital Management Corp ADV’s holdings, making the stock its 26th largest position. Tandem Capital Management Corp ADV’s holdings in Fortive were worth $2,032,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Fortive in the 3rd quarter valued at about $25,000. Cornerstone Planning Group LLC acquired a new stake in Fortive during the third quarter valued at approximately $28,000. Cetera Trust Company N.A acquired a new stake in Fortive during the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new stake in Fortive during the third quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in Fortive in the fourth quarter worth approximately $38,000. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the sale, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock valued at $5,475,122 over the last 90 days. 0.95% of the stock is currently owned by company insiders.

Fortive Stock Up 0.2 %

NYSE FTV traded up $0.16 during trading on Thursday, reaching $76.21. The company’s stock had a trading volume of 2,336,668 shares, compared to its average volume of 1,687,384. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $87.10. The business has a 50-day moving average price of $84.00 and a 200-day moving average price of $76.13. The stock has a market capitalization of $26.83 billion, a PE ratio of 31.23, a PEG ratio of 2.47 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. On average, research analysts forecast that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio (DPR) is currently 13.11%.

Wall Street Analyst Weigh In

FTV has been the subject of a number of recent research reports. Truist Financial began coverage on Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Barclays increased their price target on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada cut their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday. Vertical Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Finally, Citigroup dropped their target price on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive 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.