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

SVB Wealth LLC lowered its stake in Fortive Co. (NYSE:FTV) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,305 shares of the technology company’s stock after selling 137 shares during the period. SVB Wealth LLC’s holdings in Fortive were worth $538,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its position in Fortive by 61,103.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock worth $231,338,000 after acquiring an additional 3,594,708 shares during the period. Norges Bank purchased a new position in shares of Fortive in the fourth quarter worth about $193,761,000. Vanguard Group Inc. lifted its holdings in shares of Fortive by 2.7% during the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after purchasing an additional 989,883 shares during the period. Ameriprise Financial Inc. boosted its position in Fortive by 136.0% in the first quarter. Ameriprise Financial Inc. now owns 1,215,152 shares of the technology company’s stock valued at $82,839,000 after buying an additional 700,298 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Fortive by 493.0% in the 4th quarter. Point72 Asset Management L.P. now owns 653,500 shares of the technology company’s stock worth $41,987,000 after buying an additional 543,300 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Down 0.9 %

Fortive stock opened at $79.49 on Friday. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10. The stock has a market capitalization of $27.93 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.45 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. The business has a 50 day simple moving average of $84.41 and a 200-day simple moving average of $76.04.

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

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is 13.11%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FTV shares. Citigroup upped their price objective on shares of Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho increased their price target on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Wells Fargo & Company boosted their price objective on Fortive from $79.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $95.00 to $90.00 in a report on Wednesday. Finally, Barclays boosted their price target on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.54.

Insider Buying and Selling

In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,937 shares of company stock worth $5,475,122. 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.