MJP Associates Inc. ADV Has $343,000 Holdings in Fortive Co. (NYSE:FTV)

MJP Associates Inc. ADV grew its stake in Fortive Co. (NYSE:FTV) by 27.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,656 shares of the technology company’s stock after purchasing an additional 995 shares during the quarter. MJP Associates Inc. ADV’s holdings in Fortive were worth $343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. PCA Investment Advisory Services Inc. acquired a new stake in shares of Fortive in the second quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in shares of Fortive in the third quarter valued at about $25,000. Cornerstone Planning Group LLC acquired a new stake in shares of Fortive during the 3rd quarter worth about $28,000. First Command Advisory Services Inc. acquired a new stake in Fortive during the third quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Fortive in the fourth quarter valued at approximately $38,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of FTV remained flat at $86.02 during trading hours on Thursday. 1,243,047 shares of the company were exchanged, compared to its average volume of 1,640,806. The stock has a 50 day moving average price of $82.18 and a two-hundred day moving average price of $74.99. The stock has a market cap of $30.23 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 2.67 and a beta of 1.13. Fortive Co. has a one year low of $62.70 and a one year high of $87.10. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. Fortive’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. Analysts predict that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, February 22nd. Fortive’s payout ratio is presently 13.11%.

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were 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 directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Tamara S. Newcombe sold 5,000 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock worth $5,475,122 over the last ninety days. Company insiders own 0.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FTV shares. Mizuho increased their target price on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Truist Financial initiated coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Vertical Research lowered Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada increased their target price on Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, February 1st. Finally, Wells Fargo & Company boosted their price target on Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average target price of $83.85.

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.