Albion Financial Group UT Purchases New Holdings in Fortive Co. (NYSE:FTV)

Albion Financial Group UT acquired a new position in shares of Fortive Co. (NYSE:FTV) in the fourth quarter, Holdings Channel reports. The fund acquired 505 shares of the technology company’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in shares of Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after purchasing an additional 135 shares during the last quarter. Wedmont Private Capital increased its stake in Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after buying an additional 137 shares during the period. Patton Albertson Miller Group LLC raised its position in Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after buying an additional 150 shares during the last quarter. Andina Capital Management LLC lifted its stake in shares of Fortive by 3.4% in the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after acquiring an additional 152 shares during the period. Finally, Axiom Advisory LLC boosted its holdings in shares of Fortive by 1.6% in the third quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company’s stock valued at $734,000 after acquiring an additional 157 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. cut their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial increased their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price for the company. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.45.

Insider Activity

In other news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $80.22 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $76.86 and its 200 day simple moving average is $74.95. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The firm has a market capitalization of $27.83 billion, a PE ratio of 31.96, a P/E/G ratio of 2.12 and a beta of 1.14.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 12.75%.

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.