Dakota Wealth Management Reduces Position in Fortive Co. (NYSE:FTV)

Dakota Wealth Management reduced its stake in Fortive Co. (NYSE:FTVFree Report) by 44.5% during the 4th quarter, Holdings Channel reports. The fund owned 6,527 shares of the technology company’s stock after selling 5,237 shares during the period. Dakota Wealth Management’s holdings in Fortive were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in FTV. Capital Performance Advisors LLP purchased a new position in shares of Fortive during the third quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of Fortive during the 2nd quarter worth about $31,000. Pinnacle Bancorp Inc. boosted its position in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 176 shares during the last quarter. Versant Capital Management Inc raised its stake in 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 purchasing an additional 297 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Fortive during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

Shares of FTV opened at $80.55 on Friday. Fortive Co. has a 12 month low of $66.15 and a 12 month 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 stock has a fifty day moving average price of $77.14 and a 200 day moving average price of $75.07. The company has a market cap of $27.95 billion, a P/E ratio of 32.09, a PEG ratio of 2.15 and a beta of 1.14.

Fortive (NYSE:FTVGet Free Report) last released its quarterly earnings results 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. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 12.75%.

Analyst Ratings Changes

Several research analysts recently commented on FTV shares. Barclays cut their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.45.

Get Our Latest Stock Report on Fortive

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 5,000 shares of Fortive 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 transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction 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 transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Fortive Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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