Intech Investment Management LLC Cuts Stock Position in Fortive Co. (NYSE:FTV)

Intech Investment Management LLC decreased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,380 shares of the technology company's stock after selling 10,043 shares during the period. Intech Investment Management LLC's holdings in Fortive were worth $928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC increased its position in Fortive by 3.3% in the third quarter. Empowered Funds LLC now owns 5,410 shares of the technology company's stock worth $427,000 after buying an additional 174 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Fortive by 1.7% in the third quarter. Natixis Advisors LLC now owns 43,593 shares of the technology company's stock worth $3,441,000 after purchasing an additional 737 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fortive by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company's stock valued at $155,081,000 after buying an additional 24,539 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in Fortive by 4.7% in the 3rd quarter. Raymond James Trust N.A. now owns 10,404 shares of the technology company's stock worth $821,000 after buying an additional 468 shares during the period. Finally, Camden National Bank purchased a new stake in Fortive in the 3rd quarter worth $220,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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Fortive Trading Down 0.7 %

Shares of FTV traded down $0.53 during midday trading on Thursday, hitting $74.66. The stock had a trading volume of 1,330,308 shares, compared to its average volume of 2,133,414. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market cap of $25.41 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $86.21. The stock's 50 day moving average is $78.56 and its 200 day moving average is $76.95.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $0.98 earnings per share. As a group, analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive's dividend payout ratio (DPR) is 13.56%.

Analyst Ratings Changes

Several analysts recently issued reports on FTV shares. JPMorgan Chase & Co. cut their target price on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Citigroup lowered shares of Fortive from a "buy" rating to a "neutral" rating and cut their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Royal Bank of Canada raised their target price on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, February 10th. Wells Fargo & Company increased their price objective 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. Finally, Truist Financial lifted their target price on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $87.18.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 5,688 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 in the last three months. Corporate 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.