Fortive Co. (NYSE:FTV) Stock Position Lowered by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Fortive Co. (NYSE:FTV) by 3.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168,476 shares of the technology company’s stock after selling 6,499 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fortive were worth $12,636,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its holdings in shares of Fortive by 4.3% during the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after buying an additional 137 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in shares of Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 142 shares during the period. Manchester Capital Management LLC lifted its position in shares of Fortive by 13.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock worth $105,000 after purchasing an additional 165 shares in the last quarter. Webster Bank N. A. boosted its holdings in shares of Fortive by 6.6% during the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock worth $202,000 after purchasing an additional 168 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in Fortive by 1.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 13,628 shares of the technology company’s stock valued at $1,022,000 after purchasing an additional 168 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Barclays lowered their price target on Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.18.

Fortive Trading Down 2.7 %

Shares of NYSE:FTV opened at $72.57 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $85.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The company has a market cap of $24.69 billion, a P/E ratio of 30.75, a P/E/G ratio of 2.68 and a beta of 1.16. The stock’s 50-day moving average is $78.35 and its 200-day moving average is $76.93.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the company posted $0.98 EPS. Equities research analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.44%. Fortive’s dividend payout ratio is 13.56%.

Insider Transactions at Fortive

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares of the company’s stock, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is currently owned by company insiders.

Fortive Company 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.