Voya Investment Management LLC Purchases 62,127 Shares of Fortive Corporation $FTV

Voya Investment Management LLC boosted its position in Fortive Corporation (NYSE:FTV) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 507,055 shares of the technology company’s stock after purchasing an additional 62,127 shares during the period. Voya Investment Management LLC owned about 0.15% of Fortive worth $24,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FTV. True Wealth Design LLC grew its position in Fortive by 815.4% during the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after buying an additional 424 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after acquiring an additional 357 shares during the last quarter. Capital Analysts LLC grew its position in shares of Fortive by 41.0% during the 1st quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after acquiring an additional 152 shares during the period. Banque Transatlantique SA increased its stake in shares of Fortive by 92.8% in the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after purchasing an additional 270 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in Fortive in the 2nd quarter worth $48,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares in the company, valued at $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.92% of the company’s stock.

Fortive Trading Up 0.4%

FTV stock opened at $54.88 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The business has a 50 day simple moving average of $51.77 and a two-hundred day simple moving average of $52.79. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 3.31 and a beta of 1.13.

Fortive (NYSE:FTV) last released its earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The firm had revenue of $1.07 billion for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. Research analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, November 28th. Fortive’s payout ratio is currently 13.71%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FTV shares. Citigroup boosted their price target on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, December 8th. Mizuho cut their price objective on Fortive from $65.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Robert W. Baird raised their target price on shares of Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Fortive in a report on Monday, December 15th. Finally, Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.54.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.