Chevy Chase Trust Holdings LLC Decreases Stake in Fortive Co. (NYSE:FTV)

Chevy Chase Trust Holdings LLC decreased its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,927 shares of the technology company's stock after selling 5,776 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Fortive worth $14,320,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Fortive during the 3rd quarter worth about $25,000. Versant Capital Management Inc increased its holdings in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock worth $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust purchased a new position in shares of Fortive in the 4th quarter valued at about $37,000. Albion Financial Group UT purchased a new position in shares of Fortive in the 4th quarter valued at about $38,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Fortive in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Stock Performance

Shares of FTV stock traded down $1.04 during midday trading on Thursday, hitting $81.94. The company had a trading volume of 2,336,145 shares, compared to its average volume of 2,411,619. The company's 50 day simple moving average is $78.03 and its 200 day simple moving average is $75.95. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The stock has a market cap of $28.43 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.67 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV - Get Free Report) last announced 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 period in the prior year, the company posted $0.98 EPS. Research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. Fortive's dividend payout ratio (DPR) is currently 13.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FTV shares. Wells Fargo & Company increased 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. Argus reiterated a "hold" rating on shares of Fortive in a report on Monday, November 18th. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Truist Financial upped their target price on Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently 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.