Fortive Co. (NYSE:FTV) Shares Acquired by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. increased its stake in shares of Fortive Co. (NYSE:FTV) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 253,207 shares of the technology company’s stock after purchasing an additional 5,607 shares during the period. ST Germain D J Co. Inc. owned 0.07% of Fortive worth $18,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates lifted its stake in shares of Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after purchasing an additional 226 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Fortive by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after purchasing an additional 10,795 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Fortive in the third quarter valued at approximately $1,346,000. Finally, ProShare Advisors LLC increased its holdings in shares of Fortive by 18.3% in the second quarter. ProShare Advisors LLC now owns 52,797 shares of the technology company’s stock valued at $3,912,000 after purchasing an additional 8,149 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Trading Down 2.0 %

Shares of FTV traded down $1.53 during midday trading on Friday, hitting $75.22. 559,719 shares of the stock were exchanged, compared to its average volume of 1,938,249. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a fifty day simple moving average of $76.14 and a 200 day simple moving average of $74.64. The firm has a market cap of $26.10 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.11 and a beta of 1.14.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. Fortive’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, research analysts anticipate that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of Fortive 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 transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This represents 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.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Truist Financial boosted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays cut their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Six equities research 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, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.64.

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.