Farther Finance Advisors LLC Reduces Stock Position in Fortive Co. (NYSE:FTV)

Farther Finance Advisors LLC trimmed its holdings in Fortive Co. (NYSE:FTV) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,483 shares of the technology company’s stock after selling 136 shares during the period. Farther Finance Advisors LLC’s holdings in Fortive were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Point72 Asset Management L.P. grew its position in shares of Fortive by 1,005.9% in the third quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after purchasing an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after purchasing an additional 977,428 shares during the period. Holocene Advisors LP increased its position in shares of Fortive by 1,014.1% during the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock valued at $72,984,000 after buying an additional 841,671 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Fortive by 59.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock valued at $107,271,000 after buying an additional 505,882 shares during the period. Finally, Clarkston Capital Partners LLC bought a new position in shares of Fortive in the third quarter valued at approximately $25,930,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Fortive news, CEO James A. Lico sold 196,117 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares of the company’s stock, valued at $42,509,043.38. This represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stacey A. Walker sold 3,002 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the transaction, the senior vice president now owns 42,373 shares in the company, valued at $3,349,585.65. The trade was a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 in the last ninety days. 1.01% of the stock is owned by insiders.

Fortive Stock Up 1.4 %

Shares of NYSE FTV opened at $74.71 on Tuesday. The stock has a market capitalization of $25.42 billion, a P/E ratio of 31.66, a PEG ratio of 2.68 and a beta of 1.16. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The firm’s 50 day simple moving average is $78.78 and its two-hundred day simple moving average is $76.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.

Fortive (NYSE:FTV) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm posted $0.98 EPS. As a group, analysts expect that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is presently 13.56%.

Analyst Ratings Changes

A number of analysts recently weighed in on FTV shares. Truist Financial upped their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Barclays decreased 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, January 8th. Argus reiterated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Finally, Royal Bank of Canada upped their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.64.

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.