Farther Finance Advisors LLC Sells 296 Shares of Fortive Corporation (NYSE:FTV)

Farther Finance Advisors LLC decreased its position in shares of Fortive Corporation (NYSE:FTV) by 6.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,187 shares of the technology company’s stock after selling 296 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortive were worth $308,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FTV. Parvin Asset Management LLC purchased a new position in Fortive during the 4th quarter valued at about $26,000. American National Bank & Trust purchased a new position in Fortive in the 1st quarter worth approximately $26,000. Park Square Financial Group LLC bought a new stake in Fortive in the 4th quarter worth $30,000. Whipplewood Advisors LLC bought a new stake in shares of Fortive in the 4th quarter worth approximately $31,000. Finally, Quarry LP raised its holdings in Fortive by 229.6% in the 4th quarter. Quarry LP now owns 501 shares of the technology company’s stock worth $38,000 after purchasing an additional 349 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 1.7%

NYSE:FTV opened at $69.57 on Wednesday. Fortive Corporation has a twelve month low of $60.39 and a twelve month high of $83.32. The company has a market cap of $23.65 billion, a PE ratio of 30.51, a P/E/G ratio of 2.93 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $69.49 and its two-hundred day moving average is $74.18.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Fortive had a net margin of 12.90% and a return on equity of 13.19%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.83 earnings per share. Analysts anticipate that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, May 30th. Fortive’s dividend payout ratio (DPR) is presently 14.04%.

Fortive declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 27th that permits the company to buyback 15,630,000 shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on FTV shares. Citigroup lowered their price target on shares of Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays restated an “overweight” rating and set a $86.00 price objective (up from $84.00) on shares of Fortive in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. increased their price target on Fortive from $73.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Truist Financial dropped their price target on shares of Fortive from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, BNP Paribas reaffirmed a “neutral” rating on shares of Fortive in a research report on Thursday, June 12th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $82.62.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 14,327 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $73.88, for a total transaction of $1,058,478.76. Following the transaction, the senior vice president now directly owns 51,750 shares of the company’s stock, valued at approximately $3,823,290. This trade represents a 21.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James A. Lico sold 175,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the completion of the transaction, the chief executive officer now directly owns 428,585 shares in the company, valued at $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.92% 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.