Fortive Co. (NYSE:FTV) Stock Position Reduced by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in Fortive Co. (NYSE:FTV) by 44.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,380 shares of the technology company’s stock after selling 10,043 shares during the quarter. Intech Investment Management LLC’s holdings in Fortive were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FTV. Whipplewood Advisors LLC bought a new stake in Fortive during the fourth quarter valued at $31,000. Versant Capital Management Inc grew 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 buying an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new stake in Fortive during the fourth quarter worth about $37,000. Albion Financial Group UT bought a new position in Fortive in the fourth quarter worth about $38,000. Finally, Dakota Community Bank & Trust NA boosted its stake in Fortive by 28.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after acquiring an additional 175 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 3,002 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the sale, the senior vice president now owns 42,373 shares in the company, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares of the company’s stock, valued at $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 in the last ninety days. 1.01% of the stock is currently owned by corporate insiders.

Fortive Stock Performance

FTV opened at $74.84 on Monday. The business has a 50 day moving average price of $78.65 and a two-hundred day moving average price of $76.90. 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 company has a market capitalization of $25.47 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $86.21.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share 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 period last year, the business earned $0.98 earnings per share. Research analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio is currently 13.56%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Barclays cut their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada lifted their price objective on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Finally, Truist Financial boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.64.

About Fortive

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.