Wedge Capital Management L L P NC Boosts Stake in Fortive Co. (NYSE:FTV)

Wedge Capital Management L L P NC boosted its stake in Fortive Co. (NYSE:FTV) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 253,424 shares of the technology company’s stock after purchasing an additional 18,439 shares during the period. Wedge Capital Management L L P NC’s holdings in Fortive were worth $18,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Fortive by 7.7% during the third quarter. CWM LLC now owns 5,857 shares of the technology company’s stock worth $434,000 after buying an additional 417 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Fortive by 723.0% during the third quarter. AE Wealth Management LLC now owns 23,266 shares of the technology company’s stock worth $1,725,000 after purchasing an additional 20,439 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Fortive by 21.5% in the third quarter. HB Wealth Management LLC now owns 4,236 shares of the technology company’s stock worth $314,000 after purchasing an additional 749 shares during the period. RFG Advisory LLC grew its holdings in shares of Fortive by 2.4% during the third quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock valued at $491,000 after purchasing an additional 153 shares during the last quarter. Finally, New Hampshire Trust increased its holdings in shares of Fortive by 1.5% in the 3rd quarter. New Hampshire Trust now owns 13,376 shares of the technology company’s stock worth $992,000 after acquiring an additional 194 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

NYSE FTV opened at $80.51 on Tuesday. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $87.10. The stock has a market capitalization of $28.29 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. The business’s fifty day moving average price is $84.35 and its 200-day moving average price is $76.10.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. Fortive’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. On average, equities analysts predict that Fortive Co. will post 3.78 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is 13.11%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Fortive from $90.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Mizuho raised their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Wells Fargo & Company increased their price objective on Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Finally, Truist Financial assumed coverage on shares of Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.54.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the sale, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock valued at $5,475,122 in the last quarter. 0.95% of the stock is currently owned by corporate insiders.

Fortive 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.