Whittier Trust Co. of Nevada Inc. Buys 8,456 Shares of Fortive Co. (NYSE:FTV)

Whittier Trust Co. of Nevada Inc. raised its stake in Fortive Co. (NYSE:FTV) by 6.1% in the fourth quarter, Holdings Channel reports. The firm owned 147,381 shares of the technology company’s stock after acquiring an additional 8,456 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Fortive were worth $11,054,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new position in Fortive in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc boosted its stake in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares during the period. Crews Bank & Trust bought a new position in shares of Fortive during the 4th quarter worth approximately $37,000. Albion Financial Group UT bought a new position in shares of Fortive during the 4th quarter worth approximately $38,000. Finally, Dakota Community Bank & Trust NA boosted its stake in shares of Fortive by 28.6% during the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after acquiring an additional 175 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FTV. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Truist Financial lifted their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the transaction, the senior vice president now owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the transaction, the chief financial officer now directly owns 76,126 shares of the company’s stock, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,385 shares of company stock valued at $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $74.66 on Friday. The stock has a market capitalization of $25.41 billion, a PE ratio of 31.64, a P/E/G ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The business has a fifty day moving average price of $78.66 and a two-hundred day moving average price of $76.83. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company posted $0.98 earnings per share. As a group, equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is currently 13.56%.

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.