Teamwork Financial Advisors LLC Has $929,000 Stake in Fortive Co. (NYSE:FTV)

Teamwork Financial Advisors LLC reduced its position in Fortive Co. (NYSE:FTV) by 38.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,618 shares of the technology company’s stock after selling 7,776 shares during the period. Teamwork Financial Advisors LLC’s holdings in Fortive were worth $929,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in Fortive during the first quarter worth about $66,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Fortive by 6.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,124,090 shares of the technology company’s stock worth $129,421,000 after acquiring an additional 127,093 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Fortive by 123.0% during the first quarter. Panagora Asset Management Inc. now owns 19,004 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 10,481 shares in the last quarter. Cibc World Market Inc. lifted its holdings in Fortive by 11.7% during the first quarter. Cibc World Market Inc. now owns 21,144 shares of the technology company’s stock worth $1,288,000 after acquiring an additional 2,217 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Fortive by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,693,658 shares of the technology company’s stock valued at $103,217,000 after purchasing an additional 84,238 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Mizuho lifted their target price on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Royal Bank of Canada lifted 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, Truist Financial started coverage on Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price on the stock. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.85.

Fortive Stock Performance

Shares of NYSE:FTV remained flat at $86.02 during mid-day trading on Friday. 1,244,365 shares of the company were exchanged, compared to its average volume of 1,538,618. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $30.23 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 2.71 and a beta of 1.13. The company has a 50 day simple moving average of $82.77 and a 200-day simple moving average of $75.15. Fortive Co. has a 52 week low of $62.70 and a 52 week high of $87.10.

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. On average, research analysts anticipate that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Dividend Announcement

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

Insider Buying and Selling at Fortive

In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at approximately $1,689,743.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at $1,689,743.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction dated 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 owns 36,558 shares of the company’s stock, valued at $3,162,267. The disclosure for this sale can be found here. Insiders have sold 63,937 shares of company stock valued at $5,475,122 in the last 90 days. 0.95% of the stock is currently owned by company insiders.

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.