Fortive Co. (NYSE:FTV) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its holdings in shares of Fortive Co. (NYSE:FTV) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,701 shares of the technology company’s stock after selling 533 shares during the period. Douglas Lane & Associates LLC’s holdings in Fortive were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in Fortive during the 3rd quarter worth $25,000. Goodman Advisory Group LLC acquired a new stake in Fortive in the second quarter worth about $31,000. Pinnacle Bancorp Inc. grew its position in Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 176 shares in the last quarter. Versant Capital Management Inc increased its stake in Fortive by 186.8% during 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 during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Fortive during the 2nd quarter worth about $35,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FTV shares. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Truist Financial boosted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.64.

Fortive Stock Up 0.2 %

FTV stock opened at $76.80 on Thursday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The firm has a market capitalization of $26.65 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.11 and a beta of 1.14. The company’s 50 day simple moving average is $76.04 and its 200-day simple moving average is $74.62.

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

Fortive Announces Dividend

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

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $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 corporate insiders.

About Fortive

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.