Candriam S.C.A. Lowers Stake in Fortive Co. (NYSE:FTV)

Candriam S.C.A. lowered its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 37.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 237,765 shares of the technology company's stock after selling 141,976 shares during the period. Candriam S.C.A. owned about 0.07% of Fortive worth $17,832,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FTV. Raymond James Financial Inc. acquired a new position in shares of Fortive in the 4th quarter worth approximately $22,412,000. Cullen Frost Bankers Inc. raised its position in Fortive by 1.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 13,628 shares of the technology company's stock valued at $1,022,000 after buying an additional 168 shares during the last quarter. Arizona State Retirement System boosted its holdings in Fortive by 0.9% during the fourth quarter. Arizona State Retirement System now owns 101,745 shares of the technology company's stock worth $7,631,000 after purchasing an additional 890 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Fortive in the fourth quarter valued at approximately $5,847,000. Finally, J.Safra Asset Management Corp grew its position in Fortive by 84.8% during the fourth quarter. J.Safra Asset Management Corp now owns 852 shares of the technology company's stock valued at $64,000 after buying an additional 391 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV stock traded down $1.70 during mid-day trading on Monday, reaching $74.91. The stock had a trading volume of 2,940,428 shares, compared to its average volume of 2,119,379. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. 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 firm has a market cap of $25.49 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.68 and a beta of 1.16. The business's fifty day moving average is $78.95 and its 200-day moving average is $76.83.

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

Fortive Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada increased their target price on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. Wells Fargo & Company increased their target price on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Barclays cut their price objective on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. UBS Group initiated coverage on Fortive in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price target on the stock. Finally, Truist Financial increased their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a 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 company. Based on data from MarketBeat.com, Fortive currently has an average rating of "Moderate Buy" and a consensus price target of $87.64.

Insider Transactions at Fortive

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares of the company's stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by corporate insiders.

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.