Park Avenue Securities LLC Sells 17,126 Shares of Fortive Co. (NYSE:FTV)

Park Avenue Securities LLC lessened its holdings in Fortive Co. (NYSE:FTV - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,094 shares of the technology company's stock after selling 17,126 shares during the quarter. Park Avenue Securities LLC's holdings in Fortive were worth $1,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Private Advisor Group LLC raised its position in shares of Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock worth $308,000 after acquiring an additional 135 shares during the last quarter. Wedmont Private Capital boosted its position in Fortive by 4.3% during the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock valued at $252,000 after acquiring an additional 137 shares during the last quarter. Patton Albertson Miller Group LLC grew its holdings in Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company's stock worth $699,000 after acquiring an additional 150 shares during the period. Andina Capital Management LLC raised its position in shares of Fortive by 3.4% in the 3rd quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company's stock worth $362,000 after acquiring an additional 152 shares in the last quarter. Finally, Axiom Advisory LLC boosted its position in shares of Fortive by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 10,048 shares of the technology company's stock valued at $734,000 after purchasing an additional 157 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, SVP Stacey A. Walker sold 171,808 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research note on Friday. UBS Group assumed coverage on Fortive in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 target price for the company. Barclays decreased their price objective on Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lifted their price target on shares of Fortive from $77.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 7th. Finally, Truist Financial raised their price objective 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. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.45.

Fortive Stock Performance

Fortive stock traded up $0.30 during trading on Friday, hitting $79.00. The stock had a trading volume of 2,659,762 shares, compared to its average volume of 2,226,464. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock's 50 day moving average is $76.68 and its two-hundred day moving average is $74.82. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, analysts predict that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 29th. Fortive's payout ratio is currently 12.75%.

Fortive Company Profile

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.