Fortive Co. (NYSE:FTV) Holdings Trimmed by Hartford Investment Management Co.

Hartford Investment Management Co. cut its holdings in Fortive Co. (NYSE:FTV) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,997 shares of the technology company’s stock after selling 549 shares during the quarter. Hartford Investment Management Co.’s holdings in Fortive were worth $1,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FTV. Indiana Trust & Investment Management CO bought a new stake in shares of Fortive in the 1st quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in Fortive in the second quarter worth approximately $30,000. International Assets Investment Management LLC bought a new position in shares of Fortive in the second quarter valued at $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the 2nd quarter valued at $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive during the 1st quarter worth $32,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Fortive Price Performance

NYSE FTV opened at $75.01 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $26.41 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a 50 day moving average price of $74.95 and a two-hundred day moving average price of $74.89.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities analysts predict that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FTV shares. Truist Financial upped their target price on Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and upped their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, Barclays raised their price objective on Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus target price of $87.36.

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.