Daymark Wealth Partners LLC Increases Stake in Fortive Co. (NYSE:FTV)

Daymark Wealth Partners LLC boosted its stake in Fortive Co. (NYSE:FTV) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,704 shares of the technology company’s stock after purchasing an additional 2,311 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Fortive were worth $1,103,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after buying an additional 46,704 shares during the period. Janus Henderson Group PLC boosted its holdings 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 acquiring an additional 977,428 shares during the last quarter. Mizuho Securities USA LLC grew its position in Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fortive by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after acquiring an additional 103,530 shares during the last quarter. Finally, Select Equity Group L.P. raised its holdings in shares of Fortive by 6.8% in the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after purchasing an additional 168,368 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, 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.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank of Canada decreased their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Truist Financial raised their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays decreased their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Argus reissued a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.45.

Fortive Trading Down 0.6 %

NYSE:FTV opened at $80.22 on Thursday. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. Fortive Co. has a one year low of $66.15 and a one year 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 business’s 50-day simple moving average is $76.86 and its 200 day simple moving average is $74.95.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the company posted $0.85 EPS. Fortive’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed 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. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

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.