Wellington Management Group LLP Sells 351,888 Shares of Fortive Co. (NYSE:FTV)

Wellington Management Group LLP cut its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,790,615 shares of the technology company's stock after selling 351,888 shares during the period. Wellington Management Group LLP owned about 0.53% of Fortive worth $134,296,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Fortive in the 4th quarter worth about $31,000. Versant Capital Management Inc grew its holdings in shares of Fortive by 186.8% during the fourth 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. Crews Bank & Trust acquired a new position in shares of Fortive in the fourth quarter valued at approximately $37,000. Albion Financial Group UT bought a new position in Fortive in the 4th quarter valued at approximately $38,000. Finally, Dakota Community Bank & Trust NA boosted its position in Fortive by 28.6% during the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company's stock worth $59,000 after buying an additional 175 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 6,493 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now owns 24,283 shares of the company's stock, valued at $1,941,425.85. This trade represents a 21.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 over the last quarter. 1.01% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Several brokerages have issued reports on FTV. 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 research report on Monday, February 10th. Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Truist Financial cut their target price on Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday. Barclays decreased their price target on Fortive from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada lifted their price objective on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Fortive has an average rating of "Moderate Buy" and a consensus price target of $86.36.

Fortive Trading Up 0.7 %

Shares of Fortive stock traded up $0.46 on Tuesday, reaching $65.11. 1,169,228 shares of the company's stock were exchanged, compared to its average volume of 2,576,985. The company has a market capitalization of $22.16 billion, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12. Fortive Co. has a 52 week low of $61.75 and a 52 week high of $84.69. 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 firm's 50-day moving average is $77.09 and its two-hundred day moving average is $76.78.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts' consensus estimates 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 earned $0.98 earnings per share. Sell-side analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.49%. Fortive's dividend payout ratio (DPR) is presently 13.56%.

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.