Gitterman Wealth Management LLC Acquires Shares of 3,413 Fortive Co. (NYSE:FTV)

Gitterman Wealth Management LLC acquired a new stake in Fortive Co. (NYSE:FTV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,413 shares of the technology company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Jennison Associates LLC lifted its stake in shares of Fortive by 111.7% during the 4th quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after buying an additional 620,866 shares during the last quarter. Flossbach Von Storch AG lifted its position in Fortive by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock worth $817,873,000 after acquiring an additional 512,414 shares during the last quarter. Ceredex Value Advisors LLC boosted its holdings in shares of Fortive by 47.4% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,410,427 shares of the technology company’s stock worth $103,850,000 after acquiring an additional 453,817 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Fortive by 8.6% in the third quarter. Artisan Partners Limited Partnership now owns 3,294,446 shares of the technology company’s stock valued at $244,316,000 after purchasing an additional 260,404 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in shares of Fortive by 2.9% in the third quarter. Brown Advisory Inc. now owns 6,698,951 shares of the technology company’s stock valued at $496,794,000 after purchasing an additional 191,877 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the transaction, the senior vice president now owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of Fortive 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 in the company, valued at approximately $3,162,267. 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 over the last 90 days. Insiders own 0.95% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV traded down $0.24 during mid-day trading on Friday, reaching $75.97. The company had a trading volume of 1,918,843 shares, compared to its average volume of 1,709,118. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.75 and a current ratio of 1.50. Fortive Co. has a one year low of $62.77 and a one year high of $87.10. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.31 and a beta of 1.13. The business’s 50-day simple moving average is $83.83 and its 200 day simple moving average is $76.13.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.53 billion. On average, research analysts predict that Fortive Co. will post 3.8 earnings per share for the current fiscal year.

Fortive Announces Dividend

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

Wall Street Analysts Forecast Growth

FTV has been the subject of several recent research reports. Mizuho boosted their price target on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Wells Fargo & Company dropped their target price on Fortive from $92.00 to $84.00 and set an “equal weight” rating for the company in a report on Thursday. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Citigroup dropped their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average target price of $86.46.

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.