Fifth Third Bancorp Acquires 3,440 Shares of Fortive Co. (NYSE:FTV)

Fifth Third Bancorp raised its holdings in Fortive Co. (NYSE:FTVFree Report) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,945 shares of the technology company’s stock after purchasing an additional 3,440 shares during the period. Fifth Third Bancorp’s holdings in Fortive were worth $3,088,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. abrdn plc lifted its holdings in shares of Fortive by 2.9% during the 3rd quarter. abrdn plc now owns 165,769 shares of the technology company’s stock worth $12,293,000 after acquiring an additional 4,660 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Fortive by 34.2% during the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after acquiring an additional 134,259 shares during the period. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Fortive by 4.5% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after acquiring an additional 35,688 shares during the period. Citigroup Inc. lifted its holdings in shares of Fortive by 48.6% during the 3rd quarter. Citigroup Inc. now owns 441,404 shares of the technology company’s stock worth $32,735,000 after acquiring an additional 144,283 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Fortive by 8.4% during the 3rd quarter. Victory Capital Management Inc. now owns 159,045 shares of the technology company’s stock worth $11,795,000 after acquiring an additional 12,342 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FTV. Wells Fargo & Company upped their price target on shares of Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Truist Financial started coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Mizuho upped their price objective on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Barclays upped their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.46.

Check Out Our Latest Report on Fortive

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by insiders.

Fortive Trading Up 0.2 %

Shares of NYSE FTV opened at $84.82 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. Fortive Co. has a 52-week low of $62.70 and a 52-week high of $87.10. The firm has a 50 day moving average price of $83.26 and a two-hundred day moving average price of $75.24. The stock has a market cap of $29.80 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.71 and a beta of 1.13.

Fortive (NYSE:FTVGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.05. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts forecast that Fortive Co. will post 3.78 EPS for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, February 23rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Thursday, February 22nd. Fortive’s dividend payout ratio is currently 13.11%.

Fortive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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