Weik Capital Management Purchases New Shares in Fortive Co. (NYSE:FTV)

Weik Capital Management purchased a new position in Fortive Co. (NYSE:FTV) in the 4th quarter, HoldingsChannel reports. The fund purchased 4,395 shares of the technology company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Fortive during the fourth quarter valued at approximately $412,445,000. Caisse Des Depots ET Consignations purchased a new position in shares of Fortive in the fourth quarter worth $3,243,000. NEOS Investment Management LLC raised its holdings in shares of Fortive by 31.3% during the 4th quarter. NEOS Investment Management LLC now owns 20,866 shares of the technology company’s stock worth $1,565,000 after acquiring an additional 4,977 shares in the last quarter. UniSuper Management Pty Ltd raised its position in Fortive by 23.5% during the fourth quarter. UniSuper Management Pty Ltd now owns 36,409 shares of the technology company’s stock valued at $2,731,000 after purchasing an additional 6,930 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fortive by 28.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,695,319 shares of the technology company’s stock worth $127,149,000 after buying an additional 374,837 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FTV. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada raised their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced 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. Finally, Barclays lowered their price objective on Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average price target of $87.18.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $79.05, for a total value of $237,308.10. Following the completion of the transaction, the senior vice president now owns 42,373 shares in the company, valued at $3,349,585.65. This trade represents a 6.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 sale, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,385 shares of company stock worth $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of FTV opened at $74.66 on Friday. The stock has a 50-day simple moving average of $78.48 and a 200-day simple moving average of $76.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $86.21. The stock has a market capitalization of $25.41 billion, a PE ratio of 31.63, a PEG ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the firm posted $0.98 EPS. On average, analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 13.56%.

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.