Atria Wealth Solutions Inc. Sells 2,807 Shares of Fortive Co. (NYSE:FTV)

Atria Wealth Solutions Inc. lessened its stake in shares of Fortive Co. (NYSE:FTV) by 39.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,258 shares of the technology company’s stock after selling 2,807 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fortive were worth $274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Simplicity Solutions LLC bought a new stake in Fortive during the 1st quarter valued at $340,000. Bank of New York Mellon Corp boosted its position in Fortive by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,690,395 shares of the technology company’s stock valued at $183,404,000 after acquiring an additional 39,664 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Fortive by 7.1% during the 1st quarter. Signaturefd LLC now owns 3,750 shares of the technology company’s stock valued at $256,000 after purchasing an additional 248 shares during the last quarter. Credit Suisse AG lifted its holdings in shares of Fortive by 5.8% during the 4th quarter. Credit Suisse AG now owns 688,215 shares of the technology company’s stock valued at $44,218,000 after purchasing an additional 37,903 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Fortive by 14.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 162,540 shares of the technology company’s stock valued at $10,872,000 after purchasing an additional 20,175 shares during the last quarter. Institutional investors own 95.95% of the company’s stock.

Insider Transactions at Fortive

In related news, CEO Patrick K. Murphy sold 21,793 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $76.50, for a total transaction of $1,667,164.50. Following the completion of the sale, the chief executive officer now directly owns 60,716 shares in the company, valued at $4,644,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fortive news, CEO Patrick K. Murphy sold 21,793 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $76.50, for a total value of $1,667,164.50. Following the completion of the sale, the chief executive officer now directly owns 60,716 shares in the company, valued at approximately $4,644,774. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christopher M. Mulhall sold 4,700 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $76.85, for a total value of $361,195.00. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $1,652,812.95. The disclosure for this sale can be found here. Insiders sold a total of 43,404 shares of company stock valued at $3,324,757 in the last three months. 0.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on FTV shares. Seaport Res Ptn reiterated a “buy” rating on shares of Fortive in a report on Monday, August 7th. Mizuho raised their target price on Fortive from $63.00 to $70.00 in a research note on Thursday, July 27th. Citigroup raised their target price on Fortive from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Royal Bank of Canada raised their target price on Fortive from $74.00 to $75.00 in a research note on Friday, May 26th. Finally, Argus raised their target price on Fortive from $80.00 to $85.00 in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

Fortive Trading Up 0.6 %

Shares of NYSE:FTV opened at $76.47 on Tuesday. Fortive Co. has a 12-month low of $57.43 and a 12-month high of $79.90. The company has a market capitalization of $26.92 billion, a PE ratio of 33.98, a PEG ratio of 2.81 and a beta of 1.15. The business has a 50 day moving average of $77.00 and a two-hundred day moving average of $70.62. The company has a current ratio of 0.96, a quick ratio of 0.74 and a debt-to-equity ratio of 0.20.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Fortive had a return on equity of 11.99% and a net margin of 13.39%. Fortive’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, analysts forecast that Fortive Co. will post 3.42 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Thursday, August 31st. Fortive’s payout ratio is 12.44%.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Intelligent Operating Solutions segment provides advanced instrumentation, software and services, which includes electrical test and measurement, facility and asset lifecycle software applications, and worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.