Fortive Co. (NYSE:FTV) CAO Christopher M. Mulhall Sells 6,493 Shares of Stock

Fortive Co. (NYSE:FTV) CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at $1,941,425.85. This represents a 21.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fortive Stock Up 0.2 %

Shares of NYSE FTV opened at $79.73 on Friday. The stock has a market capitalization of $27.66 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The firm has a 50-day moving average price of $78.70 and a 200 day moving average price of $76.48. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the prior year, the business posted $0.98 earnings per share. Equities research analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 13.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial boosted their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada raised their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Fortive during the 3rd quarter valued at about $25,000. Parvin Asset Management LLC purchased a new position in shares of Fortive during the 4th quarter worth approximately $26,000. Park Square Financial Group LLC purchased a new position in shares of Fortive during the 4th quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of Fortive during the 4th quarter worth approximately $31,000. Finally, Versant Capital Management Inc lifted its stake in Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after buying an additional 297 shares in 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.