US Bancorp DE Sells 6,036 Shares of Fortive Co. (NYSE:FTV)

US Bancorp DE reduced its position in Fortive Co. (NYSE:FTV) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 229,875 shares of the technology company’s stock after selling 6,036 shares during the quarter. US Bancorp DE’s holdings in Fortive were worth $17,241,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. First Hawaiian Bank boosted its stake in Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after acquiring an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after acquiring an additional 7,829 shares in the last quarter. XTX Topco Ltd bought a new position in Fortive during the third quarter worth $1,346,000. Finally, Nordea Investment Management AB boosted its stake in Fortive by 23.9% during the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock worth $118,292,000 after acquiring an additional 303,788 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Stock Performance

Shares of FTV stock opened at $79.00 on Tuesday. The firm has a 50-day moving average of $78.79 and a 200-day moving average of $76.65. The company has a market cap of $26.88 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a one year low of $66.15 and a one year high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating 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 period in the prior year, the company earned $0.98 earnings per share. Equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Wall Street Analysts Forecast Growth

FTV has been the topic of several research analyst reports. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and cut their target price for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Truist Financial raised their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Finally, UBS Group began coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

Insider Buying and Selling

In related news, CEO James A. Lico sold 196,117 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,298 shares of company stock worth $16,740,998. Insiders own 1.01% of the company’s stock.

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.