Elo Mutual Pension Insurance Co Purchases 1,891 Shares of Fortive Co. (NYSE:FTV)

Elo Mutual Pension Insurance Co lifted its holdings in Fortive Co. (NYSE:FTV) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 33,161 shares of the technology company’s stock after acquiring an additional 1,891 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fortive were worth $2,487,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FTV. Whipplewood Advisors LLC purchased a new position in Fortive in the fourth quarter worth about $31,000. Versant Capital Management Inc grew its holdings in Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust bought a new stake in Fortive during the fourth quarter valued at about $37,000. Albion Financial Group UT purchased a new stake in Fortive in the fourth quarter worth about $38,000. Finally, Dakota Community Bank & Trust NA raised its stake in shares of Fortive by 28.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of several analyst reports. Barclays reduced their target price on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Truist Financial lifted 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. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.18.

Fortive Stock Performance

FTV stock opened at $72.57 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $85.93. The business has a 50-day moving average price of $78.35 and a 200 day moving average price of $76.93. The company has a market capitalization of $24.69 billion, a P/E ratio of 30.75, a PEG ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, February 28th. Fortive’s payout ratio is 13.56%.

Insider Buying and Selling

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

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.