Fortive Co. (NYSE:FTV) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in shares of Fortive Co. (NYSE:FTV) by 9.1% during the fourth quarter, Holdings Channel reports. The firm owned 102,323 shares of the technology company’s stock after selling 10,195 shares during the quarter. Corient Private Wealth LLC’s holdings in Fortive were worth $7,674,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FTV. Whipplewood Advisors LLC purchased a new stake in Fortive during the fourth quarter valued at about $31,000. Versant Capital Management Inc lifted its stake in 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 acquiring an additional 297 shares in the last quarter. Crews Bank & Trust acquired a new stake in Fortive during the 4th quarter worth about $37,000. Albion Financial Group UT purchased a new position in Fortive during the 4th quarter valued at about $38,000. Finally, Dakota Community Bank & Trust NA increased its holdings in shares of Fortive by 28.6% in the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after purchasing an additional 175 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company’s stock, valued at $6,003,296.36. This represents 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 worth $19,508,529 over the last quarter. 1.01% of the stock is currently owned by insiders.

Fortive Stock Performance

Shares of FTV opened at $74.66 on Friday. The firm has a market cap of $25.41 billion, a P/E ratio of 31.64, a PEG ratio of 2.68 and a beta of 1.16. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The firm’s 50 day moving average price is $78.66 and its two-hundred day moving average price is $76.83. 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 issued its quarterly earnings results 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 quarter in the previous year, the company posted $0.98 earnings per share. On average, analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given 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 (DPR) is currently 13.56%.

Analysts Set New Price Targets

Several analysts recently commented on FTV shares. Barclays decreased their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Truist Financial increased 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. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fortive presently has an average 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.