Fortive Co. (NYSE:FTV) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC grew its position in shares of Fortive Co. (NYSE:FTV) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 16,603 shares of the technology company’s stock after purchasing an additional 408 shares during the quarter. Gotham Asset Management LLC’s holdings in Fortive were worth $1,245,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Parvin Asset Management LLC bought a new stake in shares of Fortive during the 4th quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in shares of Fortive during the 4th quarter worth $31,000. Crews Bank & Trust bought a new stake in shares of Fortive during the 4th quarter worth $37,000. Quarry LP boosted its stake in shares of Fortive by 229.6% during the 4th quarter. Quarry LP now owns 501 shares of the technology company’s stock worth $38,000 after acquiring an additional 349 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in shares of Fortive during the 4th quarter worth $38,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fortive news, CEO James A. Lico sold 196,117 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares of the company’s stock, valued at $42,509,043.38. The trade was a 27.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was 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 of the company’s stock, valued at $6,003,296.36. This represents a 29.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 432,712 shares of company stock valued at $33,237,008 over the last quarter. Insiders own 1.01% of the company’s stock.

Fortive Price Performance

FTV opened at $73.26 on Friday. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.68 and a beta of 1.10. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $83.32. 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 stock has a fifty day moving average price of $69.77 and a 200 day moving average price of $74.87.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. Analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s dividend payout ratio is currently 14.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird reduced their price objective on Fortive from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays lowered their price target on Fortive from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Truist Financial lowered their price target on Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Royal Bank of Canada lifted their price target on Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $81.92.

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.