J.Safra Asset Management Corp Raises Stock Holdings in Fortive Co. (NYSE:FTV)

J.Safra Asset Management Corp raised its position in shares of Fortive Co. (NYSE:FTV) by 84.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 852 shares of the technology company’s stock after acquiring an additional 391 shares during the quarter. J.Safra Asset Management Corp’s holdings in Fortive were worth $64,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FTV. Capital Performance Advisors LLP acquired a new position in shares of Fortive during the third quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new position in shares of Fortive during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc raised its holdings in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Fortive during the fourth quarter valued at approximately $37,000. Finally, Albion Financial Group UT acquired a new position in shares of Fortive during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FTV shares. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Truist Financial increased their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Royal Bank of Canada raised their target price on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. 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, Fortive currently has an average rating of “Moderate Buy” and a consensus price target of $87.64.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the sale, the senior vice president now directly owns 47,141 shares of the company’s stock, valued at $3,795,793.32. The trade was a 10.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive 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 sale, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company’s stock.

Fortive Trading Up 1.4 %

FTV opened at $78.28 on Thursday. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The business has a fifty day simple moving average of $78.90 and a 200-day simple moving average of $76.71. The firm has a market cap of $26.64 billion, a P/E ratio of 33.17, a P/E/G ratio of 2.68 and a beta of 1.15. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

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.