TD Private Client Wealth LLC Decreases Stake in Fortive Co. (NYSE:FTV)

TD Private Client Wealth LLC cut its stake in Fortive Co. (NYSE:FTV - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,139 shares of the technology company's stock after selling 7,298 shares during the period. TD Private Client Wealth LLC's holdings in Fortive were worth $1,285,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flossbach Von Storch SE raised its position in Fortive by 1.2% in the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock valued at $892,743,000 after purchasing an additional 137,479 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company's stock valued at $644,346,000 after acquiring an additional 46,704 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock valued at $634,701,000 after acquiring an additional 977,428 shares in the last quarter. Boston Partners lifted its stake in Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company's stock worth $594,108,000 after acquiring an additional 166,123 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Fortive by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company's stock worth $271,851,000 after acquiring an additional 103,530 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Fortive Stock Performance

Shares of FTV stock traded down $0.53 during trading hours 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 capitalization of $25.41 billion, a PE ratio of 31.63, a PEG ratio of 2.68 and a beta of 1.16. The stock's 50 day moving average is $78.56 and its 200 day moving average is $76.95. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $86.21.

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 for the quarter, topping analysts' consensus estimates 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 previous year, the company posted $0.98 earnings per share. As a group, research analysts forecast that Fortive Co. will post 4.05 earnings per share 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 paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive's dividend payout ratio is presently 13.56%.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of analyst reports. Wells Fargo & Company raised 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. Barclays cut their price target on Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Truist Financial raised their target price on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Finally, Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and lowered their price target for the company from $92.00 to $86.00 in a report on Monday, December 9th. 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 data from MarketBeat, Fortive has an average rating of "Moderate Buy" and an average target price of $87.18.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 5,688 shares of the firm's stock in a transaction 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 in the company, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James A. Lico sold 196,117 shares of Fortive 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 completion of the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is owned by company insiders.

Fortive 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.