Sandy Spring Bank lowered its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,136 shares of the technology company's stock after selling 22,023 shares during the period. Sandy Spring Bank's holdings in Fortive were worth $2,260,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of FTV. First Hawaiian Bank boosted its stake in Fortive by 197.0% in the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock worth $1,145,000 after purchasing an additional 10,125 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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. raised its stake in shares of Fortive by 26.4% in 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. XTX Topco Ltd acquired a new stake in Fortive during the 3rd quarter valued at approximately $1,346,000. Finally, 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 acquiring an additional 303,788 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.
Insider Transactions at Fortive
In other news, CEO James A. Lico sold 196,117 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares in the company, valued at $42,509,043.38. This trade represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 3,002 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total value of $237,308.10. Following the completion of the transaction, the senior vice president now owns 42,373 shares in the company, valued at $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 in the last quarter. Company insiders own 1.01% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Barclays reduced their price target on Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Truist Financial lifted their price target on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.64.
Check Out Our Latest Research Report on FTV
Fortive Price Performance
Shares of NYSE:FTV traded up $0.05 during midday trading on Tuesday, hitting $75.96. The company's stock had a trading volume of 1,891,802 shares, compared to its average volume of 2,138,428. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $86.21. The company has a market cap of $25.85 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The business's 50 day simple moving average is $78.64 and its 200 day simple moving average is $76.92.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share 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 quarter in the previous year, the company posted $0.98 EPS. On average, analysts forecast that Fortive Co. will post 4.05 EPS for the current year.
Fortive Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 0.42%. Fortive's dividend payout ratio is presently 13.56%.
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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