Hillsdale Investment Management Inc. Takes Position in Fortive Co. (NYSE:FTV)

Hillsdale Investment Management Inc. acquired a new stake in Fortive Co. (NYSE:FTVFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,880 shares of the technology company’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in shares of Fortive in the third quarter valued at $28,000. Cetera Trust Company N.A acquired a new position in Fortive in the fourth quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in Fortive in the third quarter valued at $30,000. Spire Wealth Management boosted its holdings in Fortive by 69.3% in the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after acquiring an additional 208 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Fortive in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of NYSE FTV opened at $77.14 on Tuesday. The company has a market cap of $27.16 billion, a PE ratio of 30.49, a P/E/G ratio of 2.26 and a beta of 1.15. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The stock has a 50 day simple moving average of $81.17 and a 200-day simple moving average of $76.96.

Fortive (NYSE:FTVGet Free Report) last released its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, equities research analysts forecast that Fortive Co. will post 3.81 EPS for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FTV shares. Truist Financial started coverage on Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective on the stock. Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada dropped their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 25th. Mizuho lifted their target price on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Check Out Our Latest Research Report on FTV

Fortive Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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