Fortive Corporation $FTV Stock Position Decreased by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in Fortive Corporation (NYSE:FTV) by 80.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 498,068 shares of the technology company’s stock after selling 2,009,890 shares during the period. American Century Companies Inc. owned 0.15% of Fortive worth $25,964,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Redmond Asset Management LLC boosted its holdings in Fortive by 1.0% in the first quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock worth $1,062,000 after purchasing an additional 142 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after buying an additional 152 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Fortive by 19.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,092 shares of the technology company’s stock worth $80,000 after buying an additional 175 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Fortive by 5.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,078 shares of the technology company’s stock worth $213,000 after acquiring an additional 199 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC increased its holdings in shares of Fortive by 1.6% during the 1st quarter. Marble Harbor Investment Counsel LLC now owns 12,620 shares of the technology company’s stock valued at $924,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FTV shares. JPMorgan Chase & Co. boosted their target price on Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Truist Financial restated a “hold” rating and issued a $58.00 price objective (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Zacks Research raised shares of Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a report on Friday, September 5th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Fortive in a research report on Tuesday, November 25th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.38.

Fortive Trading Up 0.5%

Shares of FTV opened at $53.48 on Monday. The stock’s 50-day moving average price is $50.20 and its 200 day moving average price is $54.58. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 3.22 and a beta of 1.13. Fortive Corporation has a 12-month low of $46.34 and a 12-month high of $83.32.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. The company had revenue of $1.07 billion for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%. As a group, research analysts predict that Fortive Corporation will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a $0.06 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 13.71%.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 2,192 shares of Fortive stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares in the company, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.

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.