Duncker Streett & Co. Inc. Sells 175 Shares of Fortive Co. (NYSE:FTV)

Duncker Streett & Co. Inc. lowered its holdings in shares of Fortive Co. (NYSE:FTV) by 3.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,668 shares of the technology company’s stock after selling 175 shares during the period. Duncker Streett & Co. Inc.’s holdings in Fortive were worth $344,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FTV. abrdn plc boosted its stake in shares of Fortive by 2.9% during the third quarter. abrdn plc now owns 165,769 shares of the technology company’s stock valued at $12,293,000 after purchasing an additional 4,660 shares during the period. Nordea Investment Management AB boosted its position in Fortive by 34.2% during the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock valued at $38,828,000 after buying an additional 134,259 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in Fortive by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after acquiring an additional 35,688 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Fortive by 21.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 302,334 shares of the technology company’s stock worth $22,096,000 after acquiring an additional 53,598 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Fortive by 48.6% in the third quarter. Citigroup Inc. now owns 441,404 shares of the technology company’s stock valued at $32,735,000 after acquiring an additional 144,283 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of Fortive stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now owns 61,855 shares of the company’s stock, valued at approximately $5,336,849.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the transaction, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,937 shares of company stock worth $5,475,122. Corporate insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on FTV shares. Barclays raised their price target on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup boosted their price target on shares of Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Truist Financial started coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on Fortive from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.31.

Fortive Stock Performance

Shares of NYSE:FTV traded down $0.56 during trading on Wednesday, hitting $81.04. The company’s stock had a trading volume of 1,012,461 shares, compared to its average volume of 1,518,102. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. The firm has a market cap of $28.48 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 2.57 and a beta of 1.13. The company has a 50-day moving average of $84.56 and a 200-day moving average of $75.92. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. Fortive’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts expect that Fortive Co. will post 3.78 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio is currently 13.11%.

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.