Tandem Capital Management Corp ADV Has $2.06 Million Stake in Fortive Co. (NYSE:FTV)

Tandem Capital Management Corp ADV grew its stake in shares of Fortive Co. (NYSE:FTV) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,397 shares of the technology company’s stock after purchasing an additional 728 shares during the period. Tandem Capital Management Corp ADV’s holdings in Fortive were worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James & Associates raised its holdings in shares of Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. boosted its position in shares of Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after acquiring an additional 226 shares during the period. First Hawaiian Bank increased its holdings in shares of Fortive by 197.0% in the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after purchasing an additional 10,125 shares during the period. Principal Financial Group Inc. lifted its position in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after purchasing an additional 10,795 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Fortive in the third quarter worth $1,346,000. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Truist Financial upped their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Six 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.45.

Fortive Stock Performance

Shares of Fortive stock opened at $80.34 on Tuesday. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The stock’s fifty day moving average price is $77.62 and its 200-day moving average price is $75.24. The firm has a market cap of $27.87 billion, a P/E ratio of 32.01, a P/E/G ratio of 2.18 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid 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 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Insider Activity at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.01% 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.