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LPL Financial LLC lowered its position in Fortive Co. (NYSE:FTV – Free Report) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 140,984 shares of the technology company’s stock after selling 3,864 shares during the quarter. LPL Financial LLC’s holdings in Fortive were worth $10,574,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FTV. Amundi lifted its stake in shares of Fortive by 22.4% in the fourth quarter. Amundi now owns 1,785,483 shares of the technology company’s stock worth $137,036,000 after acquiring an additional 326,652 shares in the last quarter. Nordea Investment Management AB increased its holdings in Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after purchasing an additional 303,788 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Fortive in the 4th quarter valued at approximately $22,412,000. OFI Invest Asset Management purchased a new position in shares of Fortive during the 4th quarter valued at approximately $17,750,000. Finally, Boston Partners grew its position in shares of Fortive by 2.1% during the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company’s stock worth $594,108,000 after buying an additional 166,123 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Wells Fargo & Company boosted their price objective on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.18.
Read Our Latest Stock Analysis on FTV
Fortive Trading Down 9.1 %
Shares of NYSE FTV opened at $67.54 on Friday. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The stock’s 50 day simple moving average is $77.72 and its 200 day simple moving average is $76.91. 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 Co. has a 12-month low of $66.15 and a 12-month high of $85.79.
Fortive (NYSE:FTV – Get Free Report) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $0.98 EPS. Equities research analysts expect that Fortive Co. will post 4.05 EPS for the current year.
Fortive Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. Fortive’s payout ratio is currently 13.56%.
Insider Activity
In related news, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the sale, the senior vice president now directly owns 47,141 shares in the company, valued at $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the transaction, the chief executive officer now owns 528,851 shares of the company’s stock, valued at $42,509,043.38. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,385 shares of company stock valued at $19,508,529. Insiders own 1.01% of the company’s stock.
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.
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