Fulton Bank N.A. Has $404,000 Stock Position in Fortive Co. (NYSE:FTV)

Fulton Bank N.A. lessened its stake in Fortive Co. (NYSE:FTV) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,393 shares of the technology company’s stock after selling 153 shares during the quarter. Fulton Bank N.A.’s holdings in Fortive were worth $404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FTV. Raymond James & Associates lifted its stake in Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after acquiring an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after purchasing an additional 226 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock worth $32,052,000 after purchasing an additional 10,795 shares during the period. XTX Topco Ltd acquired a new position in Fortive during the third quarter worth approximately $1,346,000. Finally, ProShare Advisors LLC raised its stake in Fortive by 18.3% in the second quarter. ProShare Advisors LLC now owns 52,797 shares of the technology company’s stock valued at $3,912,000 after buying an additional 8,149 shares during the period. 94.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on FTV shares. Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Royal Bank of Canada lowered their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Finally, Barclays lowered their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.64.

Fortive Price Performance

Fortive stock opened at $75.32 on Friday. The firm has a market cap of $26.13 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. 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 stock’s fifty day moving average price is $76.22 and its two-hundred day moving average price is $74.64. Fortive Co. has a one year low of $66.15 and a one year high of $87.10.

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

Fortive Announces Dividend

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

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.