Massmutual Trust Co. FSB ADV Has $2.68 Million Stake in Fortive Co. (NYSE:FTV)

Massmutual Trust Co. FSB ADV grew its holdings in shares of Fortive Co. (NYSE:FTV) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,892 shares of the technology company’s stock after acquiring an additional 1,070 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Fortive were worth $2,675,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Indiana Trust & Investment Management CO acquired a new position in Fortive during the first quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in shares of Fortive during the second quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive during the second quarter worth about $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive during the second quarter worth about $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive during the first quarter worth about $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on FTV shares. Wells Fargo & Company reduced their target price on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Truist Financial reduced their target price on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and upped their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Morgan Stanley started coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $86.54.

Fortive Stock Down 1.2 %

Shares of NYSE:FTV opened at $76.75 on Friday. The company has a market capitalization of $27.02 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The business has a fifty day moving average price of $72.80 and a two-hundred day moving average price of $75.76. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Analysts forecast that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio is currently 12.65%.

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.