Toronto Dominion Bank Purchases 7,914 Shares of Fortive Co. (NYSE:FTV)

Toronto Dominion Bank lifted its position in Fortive Co. (NYSE:FTV) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,113 shares of the technology company’s stock after purchasing an additional 7,914 shares during the period. Toronto Dominion Bank owned about 0.05% of Fortive worth $13,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FTV. Select Equity Group L.P. increased its stake in Fortive by 20.1% in the 4th quarter. Select Equity Group L.P. now owns 4,297,573 shares of the technology company’s stock worth $322,318,000 after buying an additional 720,250 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of Fortive by 3.3% in the fourth quarter. Shell Asset Management Co. now owns 5,937 shares of the technology company’s stock worth $445,000 after acquiring an additional 190 shares during the period. Rafferty Asset Management LLC grew its position in shares of Fortive by 10.3% during the fourth quarter. Rafferty Asset Management LLC now owns 32,411 shares of the technology company’s stock worth $2,431,000 after purchasing an additional 3,036 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Fortive by 549.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,604 shares of the technology company’s stock valued at $1,020,000 after purchasing an additional 11,508 shares during the period. Finally, Redwood Investments LLC purchased a new position in Fortive in the 4th quarter worth approximately $186,000. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares of the company’s stock, valued at approximately $3,349,585.65. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 432,712 shares of company stock worth $33,237,008. 1.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FTV shares. Royal Bank of Canada raised their target price on shares of Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on Fortive from $73.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company boosted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. BNP Paribas cut Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Wednesday, April 9th. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Fortive currently has an average rating of “Moderate Buy” and an average price target of $81.92.

Fortive Stock Performance

NYSE:FTV opened at $72.71 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The stock’s fifty day moving average is $69.74 and its 200 day moving average is $74.90. The firm has a market capitalization of $24.71 billion, a PE ratio of 30.81, a PEG ratio of 2.68 and a beta of 1.10. Fortive Co. has a fifty-two week low of $60.39 and a fifty-two week high of $83.32.

Fortive (NYSE:FTV) last announced its earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s dividend payout ratio is 14.04%.

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.