CNB Bank Has $490,000 Stake in Fortive Co. (NYSE:FTV)

CNB Bank raised its stake in shares of Fortive Co. (NYSE:FTV) by 8.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,533 shares of the technology company’s stock after purchasing an additional 531 shares during the quarter. CNB Bank’s holdings in Fortive were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after acquiring an additional 135 shares during the last quarter. Wedmont Private Capital boosted its holdings in Fortive by 4.3% in the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after acquiring an additional 137 shares during the last quarter. Patton Albertson Miller Group LLC increased its position in Fortive by 1.7% during the 3rd 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 period. Andina Capital Management LLC raised its holdings in Fortive by 3.4% during the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after purchasing an additional 152 shares during the last quarter. Finally, Axiom Advisory LLC lifted its position in shares of 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 during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of recent analyst reports. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Barclays lowered their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.45.

Fortive Price Performance

Shares of NYSE:FTV opened at $79.11 on Friday. The company has a 50 day moving average of $76.52 and a 200 day moving average of $74.73. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $27.45 billion, a P/E ratio of 31.54, a P/E/G ratio of 1.92 and a beta of 1.14. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.53 billion during 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. As a group, sell-side analysts forecast that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

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.