Tandem Capital Management Corp ADV Sells 750 Shares of Fortive Co. (NYSE:FTV)

Tandem Capital Management Corp ADV trimmed its stake in Fortive Co. (NYSE:FTV) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 27,602 shares of the technology company’s stock after selling 750 shares during the quarter. Fortive comprises approximately 1.3% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 26th biggest position. Tandem Capital Management Corp ADV’s holdings in Fortive were worth $2,032,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Mizuho lifted their target price on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Truist Financial began coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price on the stock. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and cut their price target for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a research report on Thursday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Insiders Place Their Bets

In other news, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tamara S. Newcombe sold 5,000 shares of Fortive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the sale, the chief executive officer now directly owns 55,017 shares in the company, valued at $4,676,445. 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 ninety days. Corporate insiders own 0.95% of the company’s stock.

Fortive Stock Performance

Shares of FTV traded up $0.16 during mid-day trading on Thursday, hitting $76.21. 2,336,668 shares of the company’s stock were exchanged, compared to its average volume of 1,687,384. The company has a quick ratio of 1.75, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Fortive Co. has a 52 week low of $62.70 and a 52 week high of $87.10. The stock’s 50-day simple moving average is $84.00 and its 200-day simple moving average is $76.13. The firm has a market cap of $26.83 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. On average, equities research analysts expect that Fortive Co. will post 3.78 EPS for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio is 13.11%.

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.