Truist Financial Corp Purchases 1,861 Shares of Fortive Co. (NYSE:FTV)

Truist Financial Corp grew its position in Fortive Co. (NYSE:FTV) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 134,896 shares of the technology company’s stock after buying an additional 1,861 shares during the period. Truist Financial Corp’s holdings in Fortive were worth $9,932,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Fortive by 5.3% in the third quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock valued at $237,000 after buying an additional 160 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in Fortive by 4.9% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock worth $260,000 after purchasing an additional 165 shares during the period. Global Retirement Partners LLC boosted its stake in Fortive by 17.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after purchasing an additional 167 shares during the period. Bahl & Gaynor Inc. increased its holdings in Fortive by 2.6% during the 3rd quarter. Bahl & Gaynor Inc. now owns 7,433 shares of the technology company’s stock worth $551,000 after purchasing an additional 189 shares in the last quarter. Finally, Guinness Asset Management LTD raised its stake in shares of Fortive by 2.5% in the 3rd quarter. Guinness Asset Management LTD now owns 7,865 shares of the technology company’s stock valued at $583,000 after purchasing an additional 193 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho increased their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Barclays boosted their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada decreased their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, April 25th. Truist Financial assumed coverage on shares of Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price target on the stock. Finally, JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Fortive has a consensus rating of “Hold” and a consensus price target of $86.46.

Fortive Stock Up 0.9 %

FTV opened at $76.10 on Friday. The stock’s fifty day simple moving average is $83.14 and its 200 day simple moving average is $76.14. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The stock has a market cap of $26.79 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a net margin of 14.68% and a return on equity of 12.22%. As a group, research analysts expect that Fortive Co. will post 3.81 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is 12.65%.

Insider Transactions at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now directly 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 accessible through this link. In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction dated 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 sale, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,937 shares of company stock worth $5,475,122. Company insiders own 0.95% of the company’s stock.

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.