24,272 Shares in Fortive Co. (NYSE:FTV) Purchased by New England Research & Management Inc.

New England Research & Management Inc. acquired a new position in shares of Fortive Co. (NYSE:FTV) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 24,272 shares of the technology company’s stock, valued at approximately $1,820,000.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Fortive during the third quarter worth about $25,000. Pinnacle Bancorp Inc. grew its stake in Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after purchasing an additional 176 shares in the last quarter. Versant Capital Management Inc grew its stake in Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Albion Financial Group UT bought a new position in Fortive in the fourth quarter valued at approximately $38,000. Finally, Exchange Traded Concepts LLC bought a new position in Fortive in the third quarter valued at approximately $41,000. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $80.66 on Thursday. The stock has a market cap of $27.98 billion, a P/E ratio of 32.13, a PEG ratio of 2.15 and a beta of 1.14. The stock has a 50 day simple moving average of $77.36 and a 200 day simple moving average of $75.16. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. Research analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group assumed coverage on Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.45.

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.