Tandem Capital Management Corp ADV Has $2.37 Million Stake in Fortive Co. (NYSE:FTV)

Tandem Capital Management Corp ADV reduced its stake in shares of Fortive Co. (NYSE:FTV) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,584 shares of the technology company’s stock after selling 672 shares during the quarter. Fortive comprises 1.3% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 28th biggest position. Tandem Capital Management Corp ADV’s holdings in Fortive were worth $2,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after purchasing an additional 1,999,792 shares in the last quarter. Boston Partners raised its stake in Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after buying an additional 1,045,245 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Fortive by 78.0% during the second quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock worth $63,221,000 after acquiring an additional 373,957 shares in the last quarter. Nordea Investment Management AB grew its stake in Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Fortive by 1,053.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after acquiring an additional 349,530 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTV has been the subject of several research analyst reports. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a report on Monday, July 8th. Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective on the stock. Barclays upped their target price on shares of Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average target price of $87.36.

Fortive Stock Performance

FTV stock traded up $0.42 during midday trading on Friday, reaching $75.44. 47,970 shares of the company were exchanged, compared to its average volume of 1,861,237. Fortive Co. has a one year low of $63.50 and a one year high of $87.10. The firm has a market capitalization of $26.56 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. The business has a 50-day moving average price of $74.95 and a two-hundred day moving average price of $74.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. Equities research analysts forecast that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, September 13th. Fortive’s payout ratio is 12.65%.

Insider Transactions at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on 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 directly owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate 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.