Fortive (NYSE:FTV) Shares Acquired Rep. Thomas H. Kean, Jr.

Representative Thomas H. Kean, Jr. (R-New Jersey) recently bought shares of Fortive Co. (NYSE:FTV). In a filing disclosed on December 16th, the Representative disclosed that they had bought between $1,001 and $15,000 in Fortive stock on November 4th. The trade occurred in the Representative’s “KEAN FAMILY PARTNERSHIP” account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Pernod Ricard (OTCMKTS:PDRDF) on 11/4/2024.

Fortive Stock Performance

Fortive stock opened at $75.71 on Wednesday. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The stock’s 50-day moving average is $76.39 and its 200-day moving average is $74.41.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for 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 business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. Equities analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently weighed in on FTV. Morgan Stanley initiated coverage on Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 target price for the company. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Truist Financial reduced their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada dropped their price target on shares of 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, UBS Group started coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.73.

Institutional Trading of Fortive

A number of large investors have recently added to or reduced their stakes in FTV. Private Advisor Group LLC lifted its position in shares of Fortive by 3.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after acquiring an additional 135 shares during the last quarter. Patton Albertson Miller Group LLC lifted its holdings in shares of Fortive by 1.7% during the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after purchasing an additional 150 shares during the last quarter. Andina Capital Management LLC boosted its position in shares of Fortive by 3.4% in the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock valued at $362,000 after purchasing an additional 152 shares during the period. Axiom Advisory LLC increased its stake in Fortive by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock worth $734,000 after purchasing an additional 157 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC raised its holdings in Fortive by 4.7% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 3,641 shares of the technology company’s stock worth $270,000 after buying an additional 162 shares during the period. 94.94% of the stock is currently owned by institutional investors.

About Representative Kean, Jr.

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey’s 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey’s 7th Congressional District. He declared candidacy for the 2024 election. Kean has served as state Senate minority leader. He was a member of the New Jersey General Assembly from 2001 to 2003. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.