Wedge Capital Management L L P NC Has $18.66 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Wedge Capital Management L L P NC raised its position in Fortive Co. (NYSE:FTV) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 253,424 shares of the technology company’s stock after buying an additional 18,439 shares during the quarter. Wedge Capital Management L L P NC owned about 0.07% of Fortive worth $18,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Fortive in the 3rd quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new stake in shares of Fortive during the 3rd quarter valued at approximately $28,000. Cetera Trust Company N.A purchased a new position in shares of Fortive in the fourth quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in shares of Fortive in the third quarter worth $30,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Fortive during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

FTV has been the subject of a number of analyst reports. Truist Financial started coverage on shares of Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. Royal Bank of Canada lifted their price objective on Fortive from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 1st. Citigroup upped their price objective on shares of Fortive from $90.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Vertical Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Finally, Barclays raised their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.54.

Fortive Stock Performance

Fortive stock opened at $80.51 on Tuesday. Fortive Co. has a twelve month low of $62.70 and a twelve month high of $87.10. The company has a quick ratio of 1.75, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $84.35 and its 200-day moving average price is $76.10. The company has a market cap of $28.29 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13.

Fortive (NYSE:FTV) last released its 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 during 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 for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. On average, equities research analysts forecast that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is presently 13.11%.

Insider Buying and Selling at Fortive

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 63,937 shares of company stock worth $5,475,122 over the last quarter. 0.95% of the stock is currently owned by company 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.