J. Safra Sarasin Holding AG Purchases New Position in Fortive Corporation $FTV

J. Safra Sarasin Holding AG acquired a new position in Fortive Corporation (NYSE:FTV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 27,214 shares of the technology company’s stock, valued at approximately $1,333,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. True Wealth Design LLC boosted 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 worth $25,000 after acquiring an additional 424 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of 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 purchasing an additional 357 shares during the period. Quent Capital LLC purchased a new stake in Fortive during the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC boosted its stake in Fortive by 46.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after purchasing an additional 236 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in Fortive by 71.1% during the 3rd quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock valued at $38,000 after buying an additional 325 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

FTV has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Fortive from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, December 22nd. Morgan Stanley upped their target price on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Robert W. Baird increased their target price on shares of Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Mizuho restated an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday, January 5th. Finally, Citigroup upped their price target on shares of Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Fortive presently has an average rating of “Hold” and an average price target of $57.77.

Fortive Price Performance

FTV stock opened at $52.82 on Thursday. The firm has a 50 day simple moving average of $54.42 and a two-hundred day simple moving average of $51.05. The stock has a market cap of $16.78 billion, a PE ratio of 30.18, a P/E/G ratio of 2.98 and a beta of 1.13. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.97 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s payout ratio is 13.71%.

Insider Activity

In other news, SVP Stacey A. Walker sold 2,192 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares in the company, valued at approximately $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.92% of the company’s stock.

Fortive 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.