Fortive Co. (NYSE:FTV) Stock Holdings Lessened by Citigroup Inc.

Citigroup Inc. decreased its position in shares of Fortive Co. (NYSE:FTV) by 14.3% in the third quarter, Holdings Channel.com reports. The firm owned 352,099 shares of the technology company’s stock after selling 58,627 shares during the period. Citigroup Inc.’s holdings in Fortive were worth $27,791,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FTV. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC acquired a new stake in Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in Fortive in the second quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive during the 2nd quarter worth $31,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Fortive during the 1st quarter valued at $32,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock worth $14,261,051 over the last three months. Company insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

FTV has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. UBS Group began coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, Barclays lowered their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Fortive Trading Up 1.6 %

Shares of FTV stock opened at $79.69 on Tuesday. The firm has a fifty day moving average of $75.97 and a 200-day moving average of $74.16. The stock has a market cap of $27.65 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 2.15 and a beta of 1.13. 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 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, equities research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is 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.