Fortive Co. (NYSE:FTV) CEO Sells $15,763,884.46 in Stock

Fortive Co. (NYSE:FTV) CEO James A. Lico sold 196,117 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares of the company’s stock, valued at $42,509,043.38. This trade represents a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fortive Stock Up 0.2 %

NYSE FTV opened at $79.73 on Friday. The stock has a fifty day moving average of $78.70 and a 200-day moving average of $76.48. The stock has a market capitalization of $27.66 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.

Fortive (NYSE:FTV) last released its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is currently 13.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in shares of Fortive in the 3rd quarter worth $25,000. Parvin Asset Management LLC bought a new position in shares of Fortive in the 4th quarter worth $26,000. Park Square Financial Group LLC bought a new position in shares of Fortive in the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new position in shares of Fortive in the 4th quarter worth $31,000. Finally, Versant Capital Management Inc boosted its position in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FTV. Argus restated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Truist Financial raised their price target on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their price target on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a report on Monday, February 10th. Barclays dropped their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.