Wells Fargo & Company MN Has $24.71 Million Stock Position in Fortive Co. (NYSE:FTV)

Wells Fargo & Company MN reduced its position in shares of Fortive Co. (NYSE:FTV) by 22.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,467 shares of the technology company’s stock after selling 96,118 shares during the period. Wells Fargo & Company MN owned about 0.09% of Fortive worth $24,710,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FTV. Whipplewood Advisors LLC acquired a new stake in shares of Fortive during the fourth quarter worth $31,000. Versant Capital Management Inc grew its stake in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares during the last quarter. Crews Bank & Trust acquired a new position in Fortive in the 4th quarter worth about $37,000. Albion Financial Group UT bought a new position in Fortive in the 4th quarter valued at approximately $38,000. Finally, Dakota Community Bank & Trust NA lifted its holdings in shares of Fortive by 28.6% during the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after purchasing an additional 175 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of NYSE:FTV opened at $64.81 on Friday. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.68 and a beta of 1.12. The firm’s 50-day moving average is $75.19 and its 200 day moving average is $76.29. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.66. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the previous year, the company earned $0.98 EPS. Research analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. Fortive’s payout ratio is 13.56%.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the sale, the senior vice president now directly owns 47,141 shares in the company, valued at approximately $3,795,793.32. The trade was a 10.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,385 shares of company stock valued at $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Fortive from $90.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their target price on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Finally, Barclays dropped their price objective on Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.33.

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.