Central Pacific Bank Trust Division Purchases New Holdings in Fortive Co. (NYSE:FTV)

Central Pacific Bank Trust Division acquired a new stake in Fortive Co. (NYSE:FTV) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,700 shares of the technology company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in Fortive during the second quarter worth about $30,000. TD Asset Management Inc lifted its holdings in shares of Fortive by 3.6% during the 2nd quarter. TD Asset Management Inc now owns 864,924 shares of the technology company’s stock worth $64,091,000 after acquiring an additional 30,234 shares during the period. Arizona State Retirement System boosted its position in shares of Fortive by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 101,867 shares of the technology company’s stock worth $7,548,000 after acquiring an additional 1,017 shares in the last quarter. Savant Capital LLC increased its stake in Fortive by 2.8% in the second quarter. Savant Capital LLC now owns 39,955 shares of the technology company’s stock valued at $2,961,000 after acquiring an additional 1,083 shares during the last quarter. Finally, Advisor OS LLC raised its position in Fortive by 8.7% during the second quarter. Advisor OS LLC now owns 15,151 shares of the technology company’s stock valued at $1,123,000 after purchasing an additional 1,207 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FTV has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Barclays lowered their target price on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Truist Financial raised their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group initiated coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Finally, Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.82.

Fortive Trading Up 2.0 %

NYSE FTV opened at $75.90 on Friday. The firm has a market capitalization of $26.33 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. The business’s 50-day moving average price is $75.87 and its two-hundred day moving average price is $74.54. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts expect that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive’s dividend payout ratio is presently 12.75%.

Insider Activity at Fortive

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