Fortive Co. (NYSE:FTV) Shares Sold by Graypoint LLC

Graypoint LLC trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,101 shares of the technology company’s stock after selling 1,250 shares during the period. Graypoint LLC’s holdings in Fortive were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ronald Blue Trust Inc. raised its holdings in shares of Fortive by 5.1% during the third quarter. Ronald Blue Trust Inc. now owns 2,865 shares of the technology company’s stock worth $214,000 after purchasing an additional 138 shares during the period. RFG Advisory LLC increased its holdings in shares of Fortive by 2.4% in the 3rd quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock worth $491,000 after acquiring an additional 153 shares during the period. Brighton Jones LLC increased its holdings in shares of Fortive by 5.3% in the 3rd quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock worth $237,000 after acquiring an additional 160 shares during the period. TCI Wealth Advisors Inc. increased its holdings in shares of Fortive by 4.9% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock worth $260,000 after acquiring an additional 165 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in shares of Fortive by 17.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after acquiring an additional 167 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV opened at $82.41 on Monday. The firm’s 50 day moving average is $84.58 and its 200-day moving average is $75.82. The stock has a market capitalization of $28.96 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.60 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. Fortive Co. has a 12-month low of $62.70 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a net margin of 14.27% and a return on equity of 12.12%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. Equities research analysts anticipate that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is currently 13.11%.

Analyst Ratings Changes

FTV has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Fortive from $90.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $83.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Mizuho increased their target price on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Wells Fargo & Company increased their target price on shares of Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Finally, Truist Financial assumed coverage on shares of Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price for the company. Six equities research 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, Fortive has a consensus rating of “Moderate Buy” and a consensus price target of $86.31.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Tamara S. Newcombe sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now directly owns 55,017 shares in the company, valued at $4,676,445. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock valued at $5,475,122 over the last ninety days. Corporate insiders own 0.95% of the company’s stock.

Fortive Company 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.