Avity Investment Management Inc. trimmed its holdings in shares of Fortive Co. (NYSE:FTV – Get Rating) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,033 shares of the technology company’s stock after selling 23,891 shares during the quarter. Fortive makes up approximately 1.6% of Avity Investment Management Inc.’s investment portfolio, making the stock its 26th largest position. Avity Investment Management Inc. owned approximately 0.07% of Fortive worth $15,229,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in shares of Fortive by 18.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,031 shares of the technology company’s stock worth $60,000 after buying an additional 160 shares during the period. Prudential PLC raised its stake in shares of Fortive by 2.8% during the 2nd quarter. Prudential PLC now owns 6,371 shares of the technology company’s stock worth $346,000 after buying an additional 174 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Fortive by 4.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,006 shares of the technology company’s stock worth $234,000 after buying an additional 175 shares during the period. Zions Bancorporation N.A. raised its stake in shares of Fortive by 21.8% during the 1st quarter. Zions Bancorporation N.A. now owns 977 shares of the technology company’s stock worth $59,000 after buying an additional 175 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Fortive by 0.4% in the 4th quarter. State of Alaska Department of Revenue now owns 49,526 shares of the technology company’s stock valued at $3,182,000 after purchasing an additional 180 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Fortive news, SVP Stacey A. Walker sold 3,249 shares of Fortive stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $67.75, for a total transaction of $220,119.75. Following the transaction, the senior vice president now owns 32,721 shares of the company’s stock, valued at $2,216,847.75. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Fortive news, SVP Stacey A. Walker sold 1,336 shares of Fortive stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $66.39, for a total value of $88,697.04. Following the transaction, the senior vice president now directly owns 37,946 shares in the company, valued at approximately $2,519,234.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 3,249 shares of Fortive stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $67.75, for a total value of $220,119.75. Following the completion of the transaction, the senior vice president now owns 32,721 shares in the company, valued at $2,216,847.75. The disclosure for this sale can be found here. Insiders have sold a total of 6,648 shares of company stock valued at $450,483 over the last quarter. Company insiders own 0.79% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on FTV. Wells Fargo & Company increased their price objective on Fortive from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, February 2nd. Citigroup increased their price objective on Fortive from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Mizuho increased their price objective on Fortive from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, January 13th. JPMorgan Chase & Co. increased their price objective on Fortive from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Finally, StockNews.com initiated coverage on Fortive in a report on Thursday. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.
Fortive Price Performance
Shares of NYSE FTV opened at $63.93 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.71 and a current ratio of 0.91. Fortive Co. has a fifty-two week low of $52.47 and a fifty-two week high of $69.78. The firm has a market capitalization of $22.58 billion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. The stock’s 50-day simple moving average is $67.11 and its 200-day simple moving average is $65.04.
Fortive (NYSE:FTV – Get Rating) last issued its earnings results on Wednesday, February 1st. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Fortive had a return on equity of 11.90% and a net margin of 12.96%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. As a group, equities research analysts forecast that Fortive Co. will post 3.35 EPS for the current fiscal year.
Fortive Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, February 24th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.44%. The ex-dividend date is Thursday, February 23rd. Fortive’s dividend payout ratio (DPR) is 13.33%.
Fortive Company Profile
Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.