Cannell & Spears LLC Sells 5,855 Shares of Fortive Co. (NYSE:FTV)

Cannell & Spears LLC decreased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 462,349 shares of the technology company's stock after selling 5,855 shares during the period. Cannell & Spears LLC owned approximately 0.13% of Fortive worth $34,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Glenmede Trust Co. NA boosted its position in shares of Fortive by 12.5% during the third quarter. Glenmede Trust Co. NA now owns 11,627 shares of the technology company's stock valued at $918,000 after buying an additional 1,293 shares during the last quarter. Public Sector Pension Investment Board increased its position in Fortive by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 15,065 shares of the technology company's stock worth $1,189,000 after buying an additional 1,500 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Fortive in the third quarter valued at $204,000. Verition Fund Management LLC lifted its position in shares of Fortive by 118.5% during the 3rd quarter. Verition Fund Management LLC now owns 75,239 shares of the technology company's stock valued at $5,939,000 after buying an additional 40,800 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fortive in the 3rd quarter worth about $165,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FTV shares. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their price objective on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, February 10th. Wells Fargo & Company increased their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.18.

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Insider Activity at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James A. Lico sold 196,117 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 528,851 shares in the company, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 over the last 90 days. 1.01% of the stock is owned by company insiders.

Fortive Price Performance

NYSE FTV traded down $2.91 on Friday, reaching $64.72. 1,729,697 shares of the company's stock traded hands, compared to its average volume of 2,510,099. 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 stock has a market cap of $22.02 billion, a PE ratio of 27.38, a P/E/G ratio of 2.68 and a beta of 1.16. The stock has a 50-day simple moving average of $77.72 and a 200 day simple moving average of $76.91. Fortive Co. has a 12 month low of $63.26 and a 12 month high of $84.96.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results 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 in the previous year, the firm posted $0.98 earnings per share. As a group, research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. Fortive's payout ratio is 13.56%.

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.