TCI Wealth Advisors Inc. Cuts Stock Position in Fortive Co. (NYSE:FTV)

TCI Wealth Advisors Inc. decreased its position in shares of Fortive Co. (NYSE:FTV) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,370 shares of the technology company’s stock after selling 135 shares during the period. TCI Wealth Advisors Inc.’s holdings in Fortive were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Fortive during the 3rd quarter valued at $25,000. Cornerstone Planning Group LLC acquired a new stake in Fortive in the third quarter worth about $28,000. Cetera Trust Company N.A purchased a new stake in shares of Fortive during the fourth quarter worth about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Fortive during the third quarter valued at about $30,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Fortive in the 4th quarter valued at approximately $38,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FTV has been the topic of several research analyst reports. Royal Bank of Canada dropped their target price on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company cut their price objective on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Citigroup decreased their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Barclays raised their price target on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $90.00 in a research note on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.46.

Fortive Price Performance

NYSE FTV traded up $0.77 during trading hours on Monday, reaching $76.85. The company’s stock had a trading volume of 1,244,173 shares, compared to its average volume of 1,706,709. The firm has a market capitalization of $27.05 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 2.22 and a beta of 1.15. The company’s 50-day moving average is $82.94 and its two-hundred day moving average is $76.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. On average, equities analysts predict that Fortive Co. will post 3.81 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Activity at Fortive

In related news, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at approximately $1,689,743.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total value of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at $1,689,743.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is 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.