Fortive Co. (NYSE:FTV) CFO Sells $2,530,223.10 in Stock

Fortive Co. (NYSE:FTV - Get Free Report) CFO Charles E. Mclaughlin sold 32,085 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Fortive Trading Down 0.8 %

FTV traded down $0.62 during mid-day trading on Friday, reaching $76.58. The stock had a trading volume of 3,263,640 shares, compared to its average volume of 2,110,916. The stock has a market capitalization of $26.06 billion, a P/E ratio of 32.45, a P/E/G ratio of 2.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The firm's fifty day simple moving average is $78.95 and its two-hundred day simple moving average is $76.76. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 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 last year, the business posted $0.98 EPS. On average, equities analysts predict that Fortive Co. will post 4.05 EPS for the current year.

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Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. Fortive's dividend payout ratio is 13.56%.

Institutional Trading of Fortive

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its position in shares of Fortive by 9.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company's stock valued at $3,221,036,000 after acquiring an additional 3,810,997 shares during the last quarter. Flossbach Von Storch SE increased its position in shares of Fortive by 1.2% in the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock valued at $892,743,000 after acquiring an additional 137,479 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Fortive by 164.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company's stock worth $654,763,000 after purchasing an additional 5,429,566 shares during the period. Geode Capital Management LLC grew its holdings in Fortive by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company's stock worth $620,480,000 after purchasing an additional 103,015 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock worth $634,701,000 after purchasing an additional 977,428 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on FTV. StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Truist Financial increased their target price on Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Barclays cut their price target on Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.64.

Fortive Company 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.