Brighton Jones LLC Has $253,000 Stock Position in Fortive Co. (NYSE:FTV)

Brighton Jones LLC increased its holdings in shares of Fortive Co. (NYSE:FTV) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,441 shares of the technology company’s stock after acquiring an additional 250 shares during the quarter. Brighton Jones LLC’s holdings in Fortive were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Fortive by 1.0% in the 3rd quarter. Wellington Management Group LLP now owns 19,092,535 shares of the technology company’s stock valued at $1,415,902,000 after purchasing an additional 181,948 shares during the period. Flossbach Von Storch AG lifted its position in shares of Fortive by 4.8% during the 4th quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after acquiring an additional 512,414 shares during the period. Northern Trust Corp lifted its position in shares of Fortive by 2.3% during the 3rd quarter. Northern Trust Corp now owns 3,886,914 shares of the technology company’s stock valued at $288,254,000 after acquiring an additional 85,560 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Fortive by 8.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,294,446 shares of the technology company’s stock valued at $244,316,000 after acquiring an additional 260,404 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Fortive by 0.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,380,342 shares of the technology company’s stock valued at $176,526,000 after acquiring an additional 14,400 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FTV. Truist Financial initiated coverage on Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. JPMorgan Chase & Co. cut Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Wells Fargo & Company lowered their price target on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Citigroup lowered their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Royal Bank of Canada lowered their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $86.46.

Fortive Trading Down 0.0 %

Shares of FTV stock opened at $76.08 on Friday. The stock has a market cap of $26.78 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.22 and a beta of 1.15. The stock has a 50-day moving average of $83.14 and a 200-day moving average of $76.14. 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 Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, equities research analysts forecast that Fortive Co. will post 3.81 earnings per share for the current year.

Fortive Announces Dividend

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

Insider Activity at Fortive

In related news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following 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 SEC, which can be accessed through the SEC website. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the sale, the chief executive officer now owns 55,017 shares in the company, valued at approximately $4,676,445. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of the company’s 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 sale, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock worth $5,475,122 in the last 90 days. Corporate insiders own 0.95% of the company’s stock.

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.