Sei Investments Co. Cuts Stock Position in Fortive Co. (NYSE:FTV)

Sei Investments Co. reduced its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,832 shares of the technology company's stock after selling 210,436 shares during the quarter. Sei Investments Co. owned 0.15% of Fortive worth $39,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Mizuho Securities USA LLC boosted its stake in Fortive by 44.7% during the 4th quarter. Mizuho Securities USA LLC now owns 32,883 shares of the technology company's stock valued at $2,466,000 after purchasing an additional 10,165 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Fortive by 6.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 147,381 shares of the technology company's stock worth $11,054,000 after buying an additional 8,456 shares in the last quarter. Whittier Trust Co. raised its position in Fortive by 0.6% in the 4th quarter. Whittier Trust Co. now owns 330,269 shares of the technology company's stock valued at $24,770,000 after buying an additional 1,888 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Fortive by 42.6% during the 4th quarter. Teacher Retirement System of Texas now owns 108,514 shares of the technology company's stock valued at $8,139,000 after acquiring an additional 32,402 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in Fortive by 0.7% during the fourth quarter. Royal London Asset Management Ltd. now owns 145,768 shares of the technology company's stock worth $10,933,000 after purchasing an additional 1,059 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

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Fortive Price Performance

NYSE:FTV traded down $0.50 during trading hours on Thursday, hitting $74.69. The stock had a trading volume of 427,067 shares, compared to its average volume of 2,129,993. The company has a 50 day simple moving average of $78.56 and a two-hundred day simple moving average of $76.95. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a one year low of $66.15 and a one year high of $86.21.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share 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 period in the previous year, the business earned $0.98 EPS. Research analysts forecast that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 presently 13.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FTV shares. Citigroup cut Fortive from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Truist Financial boosted their target price 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. Wells Fargo & Company raised their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased 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. Finally, StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Fortive presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.18.

Insiders Place Their Bets

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 sale, the chief executive officer now owns 528,851 shares in the company, valued at $42,509,043.38. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock valued at $19,508,529 over the last 90 days. Insiders own 1.01% of the company's stock.

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.