Truist Financial Corp Sells 10,273 Shares of Fortive Co. (NYSE:FTV)

Truist Financial Corp cut its stake in Fortive Co. (NYSE:FTV) by 7.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 128,970 shares of the technology company’s stock after selling 10,273 shares during the quarter. Truist Financial Corp’s holdings in Fortive were worth $9,673,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FTV. Capital Performance Advisors LLP acquired a new position in Fortive in the 3rd quarter worth about $25,000. Versant Capital Management Inc boosted its position in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive during the 4th quarter valued at about $37,000. Albion Financial Group UT bought a new stake in shares of Fortive during the 4th quarter valued at about $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Fortive during the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $80.03 on Friday. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The business has a fifty day moving average price of $78.20 and a 200-day moving average price of $76.07. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market capitalization of $27.77 billion, a P/E ratio of 33.91, a PEG ratio of 2.71 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (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 quarter last year, the business earned $0.98 earnings per share. As a group, equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current 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 paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 13.56%.

Analysts Set New Price Targets

FTV has been the subject of several analyst reports. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wells Fargo & Company increased their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Barclays decreased their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.