Envestnet Portfolio Solutions Inc. cut its stake in Fortive Co. (NYSE:FTV - Free Report) by 45.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,404 shares of the technology company's stock after selling 11,111 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Fortive were worth $1,005,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wedmont Private Capital boosted its position in shares of Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock worth $252,000 after purchasing an additional 137 shares in the last quarter. Dynasty Wealth Management LLC boosted its holdings in shares of Fortive by 1.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after buying an additional 142 shares during the last quarter. Patton Albertson Miller Group LLC boosted its stake in shares of Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock worth $699,000 after acquiring an additional 150 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Fortive by 13.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock valued at $105,000 after purchasing an additional 165 shares during the period. Finally, Webster Bank N. A. increased its holdings in Fortive by 6.6% in the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock worth $202,000 after acquiring an additional 168 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Fortive Trading Down 1.1 %
FTV traded down $0.80 on Wednesday, hitting $75.17. The company had a trading volume of 1,222,888 shares, compared to its average volume of 2,555,919. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $86.21. The firm has a market cap of $25.58 billion, a P/E ratio of 31.85, a PEG ratio of 2.68 and a beta of 1.16. The company's fifty day moving average price is $78.62 and its 200 day moving average price is $76.96. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.
Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (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 earned $0.98 EPS. As a group, equities analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.
Fortive Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive's dividend payout ratio (DPR) is presently 13.56%.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada boosted their target price on Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company lifted 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. Finally, Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.18.
Read Our Latest Report on Fortive
Insider Buying and Selling at Fortive
In related news, CEO James A. Lico sold 196,117 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares of the company's stock, valued at $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm'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 directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock valued at $19,508,529 in the last 90 days. Company insiders own 1.01% of the company's stock.
Fortive Company Profile
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Free Report)
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.
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