Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 4,882 Shares of Fortive Co. (NYSE:FTV)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Fortive Co. (NYSE:FTV) by 29.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,891 shares of the technology company’s stock after selling 4,882 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Fortive were worth $949,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of FTV. Visionary Horizons LLC boosted its holdings in Fortive by 26.4% during the fourth quarter. Visionary Horizons LLC now owns 4,366 shares of the technology company’s stock valued at $327,000 after purchasing an additional 912 shares in the last quarter. Empowered Funds LLC boosted its stake in Fortive by 14.4% in the 4th quarter. Empowered Funds LLC now owns 6,189 shares of the technology company’s stock valued at $464,000 after buying an additional 779 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Fortive by 30.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 7,534 shares of the technology company’s stock valued at $565,000 after buying an additional 1,762 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Fortive by 1.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,380 shares of the technology company’s stock valued at $3,404,000 after acquiring an additional 627 shares during the period. Finally, YANKCOM Partnership bought a new position in shares of Fortive during the fourth quarter valued at $298,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

Shares of FTV stock opened at $79.12 on Monday. The firm has a market cap of $27.45 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 2.14 and a beta of 1.15. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $77.65 and a 200 day moving average price of $75.36.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the previous year, the business posted $0.98 earnings per share. Research analysts expect that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FTV. Royal Bank of Canada lowered their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Truist Financial upped their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Wells Fargo & Company raised their price target on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.45.

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.