Webster Bank N. A. Buys 521 Shares of Fortive Co. (NYSE:FTV)

Webster Bank N. A. increased its position in Fortive Co. (NYSE:FTV) by 24.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,690 shares of the technology company’s stock after buying an additional 521 shares during the period. Webster Bank N. A.’s holdings in Fortive were worth $198,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FTV. OFI Invest Asset Management bought a new stake in Fortive during the 3rd quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Fortive during the second quarter valued at about $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Fortive in the 3rd quarter worth about $28,000. First Command Advisory Services Inc. bought a new position in Fortive in the 3rd quarter valued at about $30,000. Finally, Fortitude Family Office LLC bought a new position in Fortive in the 4th quarter valued at about $38,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays raised their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Mizuho upped their price objective on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Royal Bank of Canada boosted their target price on Fortive from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. increased their price target on Fortive from $83.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus price target of $85.46.

Insider Transactions at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’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 sale, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at $1,689,743.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,937 shares of company stock worth $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive Stock Up 0.2 %

Shares of NYSE FTV opened at $84.82 on Wednesday. The business has a 50-day moving average of $83.26 and a 200-day moving average of $75.24. The firm has a market capitalization of $29.80 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.67 and a beta of 1.13. Fortive Co. has a 12 month low of $62.70 and a 12 month 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 released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Fortive’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 23rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. Fortive’s dividend payout ratio (DPR) is currently 13.11%.

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.