Fortive Co. (NYSE:FTV) Stake Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Fortive Co. (NYSE:FTV - Free Report) by 9.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,320,482 shares of the technology company's stock after selling 134,891 shares during the quarter. JPMorgan Chase & Co. owned about 0.38% of Fortive worth $104,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock valued at $32,052,000 after buying an additional 10,795 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of Fortive during the 3rd quarter worth $854,000. Tidal Investments LLC lifted its stake in shares of Fortive by 5.3% during the 3rd quarter. Tidal Investments LLC now owns 16,513 shares of the technology company's stock worth $1,303,000 after purchasing an additional 829 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Fortive during the third quarter worth $456,000. Finally, World Investment Advisors LLC acquired a new position in Fortive in the third quarter valued at $12,031,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the sale, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Fortive Stock Down 0.8 %

NYSE FTV traded down $0.59 on Thursday, reaching $74.41. The company had a trading volume of 1,870,347 shares, compared to its average volume of 2,038,416. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a 50-day moving average of $75.86 and a 200-day moving average of $74.52. The firm has a market capitalization of $25.82 billion, a PE ratio of 29.65, a P/E/G ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 29th. Fortive's dividend payout ratio (DPR) is 12.75%.

Analysts Set New Price Targets

Several research firms have commented on FTV. Morgan Stanley began coverage on Fortive in a report on Friday, September 6th. They issued an "overweight" rating and a $89.00 price target for the company. Argus reaffirmed a "hold" rating on shares of Fortive in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price target on the stock. Truist Financial upped their price objective on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company cut their target price on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $86.82.

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.