Federated Hermes Inc. raised its stake in shares of Fortive Co. (NYSE:FTV – Free Report) by 43.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,516 shares of the technology company’s stock after buying an additional 20,978 shares during the period. Federated Hermes Inc.’s holdings in Fortive were worth $4,739,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. OLD Mission Capital LLC bought a new position in Fortive during the fourth quarter valued at about $33,000. Belpointe Asset Management LLC bought a new position in shares of Fortive in the fourth quarter worth about $36,000. Ridgewood Investments LLC bought a new position in shares of Fortive in the first quarter worth about $37,000. Oakworth Capital Inc. bought a new position in shares of Fortive in the first quarter worth about $40,000. Finally, Covestor Ltd increased its stake in shares of Fortive by 34.7% in the first quarter. Covestor Ltd now owns 773 shares of the technology company’s stock worth $47,000 after purchasing an additional 199 shares during the period. 95.46% of the stock is currently owned by institutional investors.
Fortive Stock Up 0.5 %
NYSE FTV opened at $79.79 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average is $73.76 and its two-hundred day moving average is $68.90. The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.94 and a beta of 1.16. Fortive Co. has a 1-year low of $57.43 and a 1-year high of $79.90.
Insider Buying and Selling at Fortive
In other news, CEO Patrick K. Murphy sold 21,793 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $76.50, for a total value of $1,667,164.50. Following the transaction, the chief executive officer now directly owns 60,716 shares of the company’s stock, valued at approximately $4,644,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Patrick K. Murphy sold 21,793 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $76.50, for a total value of $1,667,164.50. Following the transaction, the chief executive officer now directly owns 60,716 shares of the company’s stock, valued at approximately $4,644,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 16,911 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $76.66, for a total value of $1,296,397.26. Following the completion of the transaction, the chief financial officer now directly owns 101,319 shares in the company, valued at $7,767,114.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,404 shares of company stock valued at $3,324,757. 0.95% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FTV. StockNews.com began coverage on Fortive in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Citigroup lifted their price objective on Fortive from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Wells Fargo & Company lifted their price objective on Fortive from $67.00 to $71.00 in a research note on Monday, July 10th. Robert W. Baird lifted their price objective on Fortive from $82.00 to $85.00 in a research note on Thursday, July 27th. Finally, Royal Bank of Canada boosted their price target on Fortive from $74.00 to $75.00 in a research note on Friday, May 26th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $78.55.
View Our Latest Stock Report on Fortive
About Fortive
Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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