AlphaQuest LLC Decreases Stake in Fortive Co. (NYSE:FTV)

AlphaQuest LLC decreased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 65.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,108 shares of the technology company's stock after selling 21,455 shares during the period. AlphaQuest LLC's holdings in Fortive were worth $833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. First Hawaiian Bank grew its position in shares of Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after acquiring an additional 10,125 shares during the period. Principal Financial Group Inc. lifted its stake 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 buying an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Fortive by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock valued at $2,832,000 after buying an additional 7,829 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Fortive during the 3rd quarter valued at $1,346,000. Finally, Nordea Investment Management AB lifted its stake in shares of Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock valued at $118,292,000 after buying an additional 303,788 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

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Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 3,002 shares of the 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 $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at $6,003,296.36. The trade was a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,385 shares of company stock valued at $19,508,529. Company insiders own 1.01% of the company's stock.

Fortive Trading Down 0.9 %

FTV stock traded down $0.70 during mid-day trading on Tuesday, reaching $74.22. The company had a trading volume of 2,944,073 shares, compared to its average volume of 2,126,619. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market capitalization of $25.26 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The firm has a 50 day moving average of $78.94 and a 200 day moving average of $76.85. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the prior year, the company posted $0.98 EPS. On average, equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive's payout ratio is presently 13.56%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price target on the stock. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Wells Fargo & Company boosted their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada upped their target price on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Fortive has a consensus rating of "Moderate Buy" and a consensus target price of $87.64.

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.