77,957 Shares in Fortive Co. (NYSE:FTV) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in Fortive Co. (NYSE:FTV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 77,957 shares of the technology company’s stock, valued at approximately $5,847,000.

A number of other large investors also recently bought and sold shares of FTV. Point72 Asset Management L.P. lifted its holdings in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock worth $152,899,000 after acquiring an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC raised its position in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after purchasing an additional 977,428 shares during the period. Holocene Advisors LP lifted its stake in Fortive by 1,014.1% during the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after purchasing an additional 841,671 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Fortive by 59.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after purchasing an additional 505,882 shares in the last quarter. Finally, Clarkston Capital Partners LLC purchased a new position in shares of Fortive during the third quarter worth $25,930,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 76,126 shares of the company’s stock, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher M. Mulhall sold 6,493 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the transaction, the chief accounting officer now owns 24,283 shares in the company, valued at $1,941,425.85. This represents a 21.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,385 shares of company stock worth $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FTV shares. Barclays decreased their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada increased their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Truist Financial lifted their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Finally, Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

Fortive Price Performance

Fortive stock opened at $73.83 on Monday. The stock has a market cap of $25.12 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The company has a fifty day simple moving average of $78.81 and a 200-day simple moving average of $76.85. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. 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 data on Friday, February 7th. The technology company reported $1.17 earnings per share (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 in the previous year, the company posted $0.98 earnings per share. Equities analysts expect that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio is presently 13.56%.

About Fortive

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.