J. Safra Sarasin Holding AG Makes New $1.33 Million Investment in Fortive Corporation $FTV

J. Safra Sarasin Holding AG acquired a new stake in Fortive Corporation (NYSE:FTV) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 27,214 shares of the technology company’s stock, valued at approximately $1,333,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. True Wealth Design LLC raised its position in Fortive by 815.4% in the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock worth $25,000 after purchasing an additional 424 shares during the period. Quent Capital LLC purchased a new stake in Fortive during the third quarter valued at about $28,000. Exchange Traded Concepts LLC grew its stake in shares of Fortive by 46.7% during the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after buying an additional 236 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Fortive by 246.2% during the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after buying an additional 357 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its holdings in shares of Fortive by 71.1% in the third quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock worth $38,000 after buying an additional 325 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is owned by corporate insiders.

Fortive Price Performance

Shares of Fortive stock opened at $52.82 on Thursday. The business has a 50 day moving average of $54.42 and a 200 day moving average of $51.05. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a market cap of $16.78 billion, a PE ratio of 30.18, a P/E/G ratio of 2.98 and a beta of 1.13. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is presently 13.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, December 22nd. Citigroup boosted their price objective on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, December 8th. Morgan Stanley raised their target price on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Mizuho reaffirmed an “underperform” rating and issued a $51.00 target price (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Finally, Robert W. Baird increased their price target on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $57.77.

Fortive Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.