Fortive Corporation $FTV Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. decreased its position in Fortive Corporation (NYSE:FTV) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,658 shares of the technology company’s stock after selling 415 shares during the quarter. Securian Asset Management Inc.’s holdings in Fortive were worth $921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FTV. Brighton Jones LLC raised its stake in Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock valued at $428,000 after purchasing an additional 2,811 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Fortive by 9.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 36,525 shares of the technology company’s stock valued at $2,673,000 after purchasing an additional 3,285 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Fortive by 37.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 686 shares of the technology company’s stock valued at $50,000 after purchasing an additional 187 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Fortive by 15.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,386 shares of the technology company’s stock valued at $906,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Fortive by 11.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock valued at $790,000 after buying an additional 1,076 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 1.2%

Shares of NYSE:FTV opened at $49.66 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The stock has a market capitalization of $16.80 billion, a P/E ratio of 22.37, a PEG ratio of 3.11 and a beta of 1.15. The stock has a 50-day simple moving average of $48.61 and a 200-day simple moving average of $57.76.

Fortive (NYSE:FTV) last issued its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a return on equity of 11.96% and a net margin of 13.62%.The business had revenue of $1.07 billion during the quarter. Equities analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s payout ratio is presently 10.81%.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “hold” rating and set a $55.00 price objective (down previously from $60.00) on shares of Fortive in a research note on Thursday, July 31st. Cowen downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, July 15th. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Wall Street Zen raised shares of Fortive to a “hold” rating in a research note on Friday, September 5th. Finally, Weiss Ratings downgraded shares of Fortive from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.14.

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.