Diversified Trust Co Sells 13,770 Shares of Fortive Co. (NYSE:FTV)

Diversified Trust Co trimmed its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,315 shares of the technology company's stock after selling 13,770 shares during the period. Diversified Trust Co's holdings in Fortive were worth $1,449,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter valued at $25,000. Goodman Advisory Group LLC bought a new position in Fortive in the second quarter valued at about $31,000. Pinnacle Bancorp Inc. increased its position in Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock worth $33,000 after purchasing an additional 176 shares during the period. Versant Capital Management Inc raised 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 last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Fortive during the 2nd quarter valued at about $35,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays dropped their price target on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday. Truist Financial increased their price target on Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Argus reaffirmed a "hold" rating on shares of Fortive in a research note on Monday, November 18th. StockNews.com raised Fortive from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, 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 for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Fortive presently has an average rating of "Moderate Buy" and an average target price of $86.64.

Fortive Stock Up 0.2 %

FTV stock traded up $0.15 during mid-day trading on Thursday, hitting $76.80. 2,291,956 shares of the company were exchanged, compared to its average volume of 2,227,451. The firm has a market cap of $26.65 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.11 and a beta of 1.14. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The firm's 50 day simple moving average is $76.14 and its 200 day simple moving average is $74.64.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. On average, sell-side analysts predict that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive's dividend payout ratio is presently 12.75%.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company's stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares of the company's stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company's stock.

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.