Envestnet Asset Management Inc. Sells 353,126 Shares of Fortive Co. (NYSE:FTV)

Envestnet Asset Management Inc. lowered its holdings in Fortive Co. (NYSE:FTV - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 561,643 shares of the technology company's stock after selling 353,126 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Fortive worth $42,123,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Hawaiian Bank increased its stake 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 last quarter. Principal Financial Group Inc. grew its holdings in Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock valued at $32,052,000 after purchasing an additional 10,795 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock worth $2,832,000 after purchasing an additional 7,829 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Fortive by 23.9% in 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 purchasing an additional 303,788 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in shares of Fortive in the 4th quarter valued at $358,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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Fortive Stock Up 1.7 %

NYSE:FTV traded up $1.09 on Monday, hitting $66.07. 2,262,530 shares of the company's stock traded hands, compared to its average volume of 2,361,946. The firm has a 50-day moving average price of $75.19 and a 200-day moving average price of $76.27. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a market cap of $22.48 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $83.66.

Fortive (NYSE:FTV - Get Free Report) last posted 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 last year, the company earned $0.98 EPS. Equities analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. Fortive's payout ratio is presently 13.56%.

Analyst Ratings Changes

Several research analysts recently weighed in on FTV shares. Barclays cut their target price on Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company lifted their price objective on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their target price on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada upped their price target on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, February 10th. Finally, StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $81.92.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the business's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 3,002 shares of the company's stock in a transaction 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 transaction, the senior vice president now owns 42,373 shares of the company's stock, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 in the last quarter. 1.01% of the stock is currently owned by company insiders.

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.