Fortive (NYSE:FTV) Sets New 12-Month Low - Here's What Happened

Fortive Co. (NYSE:FTV - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $65.00 and last traded at $65.66, with a volume of 6292 shares traded. The stock had previously closed at $67.62.

Analyst Ratings Changes

Several research firms have commented on FTV. 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. Truist Financial lowered their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday. Barclays cut their price target on shares of Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, BNP Paribas lowered Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research report on Wednesday. Eight 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, Fortive currently has an average rating of "Hold" and an average target price of $83.33.

Fortive Price Performance

The company has a market cap of $22.42 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.68 and a beta of 1.12. The company's 50-day simple moving average is $76.37 and its 200-day simple moving average is $76.58. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

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Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $0.98 EPS. On average, equities research analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

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

Insider Transactions at Fortive

In other news, CEO James A. Lico sold 196,117 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction dated 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 directly owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortive

Institutional investors have recently made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in Fortive in the fourth quarter worth $26,000. American National Bank & Trust bought a new position in shares of Fortive in the 1st quarter worth about $26,000. Park Square Financial Group LLC acquired a new position in shares of Fortive in the 4th quarter valued at about $30,000. Whipplewood Advisors LLC bought a new stake in shares of Fortive during the 4th quarter valued at about $31,000. Finally, Versant Capital Management Inc raised its stake in 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 acquiring an additional 297 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.