Olstein Capital Management L.P. Has $4.95 Million Holdings in Fortive Corporation $FTV

Olstein Capital Management L.P. raised its stake in shares of Fortive Corporation (NYSE:FTV) by 23.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 101,000 shares of the technology company’s stock after purchasing an additional 19,500 shares during the period. Olstein Capital Management L.P.’s holdings in Fortive were worth $4,948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Fortive by 46.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after acquiring an additional 236 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares in the last quarter. Banque Transatlantique SA boosted its holdings in Fortive by 92.8% during the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after acquiring an additional 270 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Fortive in the 2nd quarter worth $48,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FTV. Wall Street Zen raised shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Wells Fargo & Company increased their price objective on shares of Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday, December 22nd. Mizuho cut their target price on Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. JPMorgan Chase & Co. upped their target price on Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Fortive in a report on Monday. Three investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.85.

Fortive Stock Up 0.3%

Fortive stock opened at $55.38 on Friday. The firm has a 50 day moving average price of $53.05 and a 200-day moving average price of $51.94. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32. The company has a market capitalization of $17.59 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.10 and a beta of 1.13.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The company had revenue of $1.07 billion for the quarter. As a group, equities analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, November 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Fortive’s dividend payout ratio is presently 13.71%.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the sale, the senior vice president owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This trade represents a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.