Generali Asset Management SPA SGR Sells 16,042 Shares of Fortive Corporation $FTV

Generali Asset Management SPA SGR reduced its stake in Fortive Corporation (NYSE:FTV) by 39.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,062 shares of the technology company’s stock after selling 16,042 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Fortive were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Fortive by 46.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock worth $36,000 after purchasing an additional 236 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Fortive by 246.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock worth $37,000 after purchasing an additional 357 shares in the last quarter. Banque Transatlantique SA increased its stake in Fortive by 92.8% in the 1st quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock valued at $38,000 after buying an additional 270 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Fortive in the 2nd quarter worth approximately $48,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on FTV. Citigroup increased their price target on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, December 8th. Truist Financial reaffirmed a “hold” rating and set a $58.00 target price (up from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Barclays boosted their price target on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Morgan Stanley raised their price objective on shares of Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Fortive has an average rating of “Hold” and a consensus target price of $57.85.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction on 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 owned 59,488 shares of the company’s stock, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.92% of the company’s stock.

Fortive Trading Up 0.3%

Shares of FTV opened at $55.38 on Monday. Fortive Corporation has a fifty-two week low of $46.34 and a fifty-two week high of $83.32. The business has a 50-day moving average of $53.05 and a 200 day moving average of $51.69. The firm has a market cap of $17.59 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 3.11 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70.

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

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio (DPR) is 13.71%.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.