SVB Wealth LLC Makes New Investment in Fortive Co. (NYSE:FTV)

SVB Wealth LLC acquired a new stake in shares of Fortive Co. (NYSE:FTV) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,510 shares of the technology company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also modified their holdings of FTV. Dynasty Wealth Management LLC increased its holdings in Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock valued at $1,083,000 after buying an additional 142 shares during the period. QRG Capital Management Inc. boosted its position in shares of Fortive by 2.9% during the 4th quarter. QRG Capital Management Inc. now owns 20,043 shares of the technology company’s stock valued at $1,503,000 after acquiring an additional 558 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Fortive in the fourth quarter valued at about $5,847,000. Mn Services Vermogensbeheer B.V. raised its position in Fortive by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 136,986 shares of the technology company’s stock worth $10,274,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Fortive during the fourth quarter worth about $31,000. 94.94% of the stock is currently owned by institutional investors.

Fortive Trading Down 2.4 %

Shares of NYSE FTV opened at $77.13 on Wednesday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a 50-day moving average of $78.84 and a two-hundred day moving average of $76.70. The company has a market cap of $26.25 billion, a PE ratio of 32.68, a P/E/G ratio of 2.68 and a beta of 1.15. 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 (NYSE:FTV) last posted 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 prior year, the business posted $0.98 EPS. As a group, equities analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared 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. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is 13.56%.

Insider Buying and Selling

In other Fortive news, CEO James A. Lico sold 196,117 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 3,002 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the sale, the senior vice president now owns 42,373 shares of the company’s stock, valued at $3,349,585.65. The trade was a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 over the last three months. 1.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FTV has been the topic of several analyst reports. Truist Financial upped their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada boosted their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Finally, Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

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.