Diversified Trust Co Reduces Position in Fortive Co. (NYSE:FTV)

Diversified Trust Co lowered its position in Fortive Co. (NYSE:FTV) by 41.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,315 shares of the technology company’s stock after selling 13,770 shares during the period. Diversified Trust Co’s holdings in Fortive were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Fortive during the 3rd quarter worth $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the second quarter worth about $31,000. Pinnacle Bancorp Inc. grew its holdings in shares of Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 176 shares during the last quarter. Versant Capital Management Inc increased its position 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 acquiring an additional 297 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Fortive during the 2nd quarter valued at approximately $35,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on FTV. Royal Bank of Canada lowered their target price 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. Truist Financial upped their price objective on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Argus reaffirmed a “hold” rating on shares of Fortive in a report on Monday, November 18th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Finally, Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.64.

Fortive Price Performance

FTV stock opened at $76.80 on Thursday. The firm has a 50 day moving average of $76.04 and a 200-day moving average of $74.62. The company has a market cap of $26.65 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 2.11 and a beta of 1.14. 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 Co. has a 12-month low of $66.15 and a 12-month high of $87.10.

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

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s payout ratio is 12.75%.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % 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 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.