Central Pacific Bank Trust Division Acquires Shares of 2,700 Fortive Co. (NYSE:FTV)

Central Pacific Bank Trust Division bought a new position in shares of Fortive Co. (NYSE:FTV) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,700 shares of the technology company’s stock, valued at approximately $202,000.

A number of other large investors also recently modified their holdings of FTV. Versant Capital Management Inc increased its stake in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after buying an additional 10,795 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Fortive during the third quarter worth about $854,000. Tidal Investments LLC raised its holdings in shares of Fortive by 5.3% in the 3rd quarter. Tidal Investments LLC now owns 16,513 shares of the technology company’s stock worth $1,303,000 after acquiring an additional 829 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Fortive in the 3rd quarter valued at about $456,000. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FTV. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada lowered their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.82.

Fortive Trading Up 2.0 %

Shares of Fortive stock opened at $75.90 on Friday. The stock has a market capitalization of $26.33 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.15 and a beta of 1.14. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock’s 50-day simple moving average is $75.87 and its 200 day simple moving average is $74.54.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. As a group, research analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

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.