Camden National Bank Acquires 2,521 Shares of Fortive Co. (NYSE:FTV)

Camden National Bank grew its holdings in Fortive Co. (NYSE:FTV) by 90.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,303 shares of the technology company’s stock after purchasing an additional 2,521 shares during the period. Camden National Bank’s holdings in Fortive were worth $398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in shares of Fortive by 13.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,619 shares of the technology company’s stock valued at $365,000 after acquiring an additional 533 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Fortive by 5.3% during the 3rd quarter. QRG Capital Management Inc. now owns 19,485 shares of the technology company’s stock valued at $1,538,000 after acquiring an additional 978 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Fortive by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after acquiring an additional 10,795 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the 3rd quarter valued at $25,000. Finally, Assetmark Inc. boosted its holdings in shares of Fortive by 18.4% during the 3rd quarter. Assetmark Inc. now owns 32,004 shares of the technology company’s stock valued at $2,526,000 after acquiring an additional 4,979 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction 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 sale, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares in the company, valued at $3,349,585.65. This trade represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock valued at $19,508,529 over the last three months. Company insiders own 1.01% of the company’s stock.

Fortive Price Performance

Shares of NYSE FTV opened at $76.58 on Friday. The stock has a fifty day simple moving average of $78.95 and a two-hundred day simple moving average of $76.76. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The firm has a market cap of $26.06 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter last year, the business earned $0.98 earnings per share. Analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

Analyst Ratings Changes

Several research firms recently weighed in on FTV. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price on the stock. Wells Fargo & Company lifted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.64.

About Fortive

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.