Fortive Co. (NYSE:FTV) Shares Bought by IMA Wealth Inc.

IMA Wealth Inc. grew its position in shares of Fortive Co. (NYSE:FTV) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,778 shares of the technology company’s stock after purchasing an additional 572 shares during the quarter. IMA Wealth Inc.’s holdings in Fortive were worth $941,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Fortive by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after purchasing an additional 181,948 shares during the period. Flossbach Von Storch AG increased its position in shares of Fortive by 4.8% during the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after purchasing an additional 512,414 shares during the period. Brown Advisory Inc. increased its position in shares of Fortive by 2.9% during the 3rd quarter. Brown Advisory Inc. now owns 6,698,951 shares of the technology company’s stock valued at $496,794,000 after purchasing an additional 191,877 shares during the period. Northern Trust Corp grew its holdings in shares of Fortive by 2.3% in the 3rd quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock worth $288,254,000 after acquiring an additional 85,560 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Fortive by 8.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,294,446 shares of the technology company’s stock worth $244,316,000 after acquiring an additional 260,404 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FTV shares. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Citigroup decreased their target price on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Truist Financial started coverage on Fortive in a report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price on the stock. Finally, Royal Bank of Canada decreased their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the transaction, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the sale, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,937 shares of company stock worth $5,475,122. Company insiders own 0.95% of the company’s stock.

Fortive Stock Down 0.3 %

Shares of NYSE:FTV traded down $0.24 on Friday, reaching $75.97. The company had a trading volume of 1,918,843 shares, compared to its average volume of 1,709,118. Fortive Co. has a twelve month low of $62.77 and a twelve month high of $87.10. The stock has a 50-day moving average price of $83.83 and a 200 day moving average price of $76.13. The stock has a market capitalization of $26.74 billion, a P/E ratio of 30.03, a P/E/G ratio of 2.31 and a beta of 1.13. The company has a quick ratio of 1.75, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. On average, equities analysts expect that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio is currently 12.65%.

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.