Fortive Co. (NYSE:FTV) SVP Stacey A. Walker Sells 171,808 Shares of Stock

Fortive Co. (NYSE:FTV) SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Fortive Trading Up 0.3 %

Shares of FTV opened at $71.39 on Wednesday. Fortive Co. has a 12-month low of $64.69 and a 12-month high of $87.10. The firm has a market capitalization of $24.77 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.96 and a beta of 1.13. The firm has a 50-day moving average price of $75.17 and a 200 day moving average price of $74.27. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. Sell-side analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive’s dividend payout ratio is currently 12.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Royal Bank of Canada lowered their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Truist Financial lowered their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.20.

Hedge Funds Weigh In On Fortive

Several large investors have recently modified their holdings of FTV. Janus Henderson Group PLC raised its holdings in Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after buying an additional 1,999,792 shares during the period. Boston Partners increased its position in shares of Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Fortive by 78.0% during the second quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock valued at $63,221,000 after acquiring an additional 373,957 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Fortive by 1,053.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock valued at $28,359,000 after acquiring an additional 349,530 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Fortive by 27.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock worth $94,041,000 after acquiring an additional 273,168 shares during the last quarter. Institutional investors and hedge funds own 94.94% 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.