PNC Financial Services Group Inc. cut its position in Fortive Co. (NYSE:FTV - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,883 shares of the technology company's stock after selling 3,822 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Fortive were worth $11,466,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of FTV. Flossbach Von Storch SE grew its position in Fortive by 1.2% in the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock valued at $892,743,000 after acquiring an additional 137,479 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company's stock valued at $644,346,000 after purchasing an additional 46,704 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock valued at $634,701,000 after purchasing an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC increased its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock worth $315,720,000 after buying an additional 3,972,855 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Fortive by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company's stock worth $271,851,000 after buying an additional 103,530 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.
Fortive Stock Performance
Shares of FTV opened at $74.22 on Wednesday. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $78.93 and a 200 day moving average price of $76.86.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the business posted $0.98 earnings per share. Research analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.
Fortive Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive's dividend payout ratio (DPR) is currently 13.56%.
Insider Activity
In other news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the transaction, the chief financial officer now directly 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 SEC, which is available through this link. 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 completion of the sale, the senior vice president now owns 42,373 shares of the company's stock, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 243,385 shares of company stock valued at $19,508,529. Insiders own 1.01% of the company's stock.
Analyst Ratings Changes
FTV has been the subject of several research reports. StockNews.com downgraded shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Citigroup cut Fortive from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Barclays cut their price target on Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Argus reissued a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their target price on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Fortive presently has a consensus rating of "Moderate Buy" and an average price target of $87.64.
Check Out Our Latest Report on Fortive
Fortive Company Profile
(
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.
Featured Stories
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