Telemus Capital LLC Reduces Holdings in Fortive Co. (NYSE:FTV)

Telemus Capital LLC trimmed its stake in Fortive Co. (NYSE:FTV) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,015 shares of the technology company’s stock after selling 1,053 shares during the period. Telemus Capital LLC’s holdings in Fortive were worth $1,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. OLD National Bancorp IN boosted its holdings in shares of Fortive by 6.1% in the fourth quarter. OLD National Bancorp IN now owns 6,812 shares of the technology company’s stock valued at $502,000 after acquiring an additional 393 shares in the last quarter. Cetera Trust Company N.A acquired a new position in Fortive during the fourth quarter worth about $28,000. CWM LLC raised its position in Fortive by 28.2% during the fourth quarter. CWM LLC now owns 7,511 shares of the technology company’s stock worth $553,000 after acquiring an additional 1,654 shares during the last quarter. abrdn plc grew its holdings in shares of Fortive by 41.2% during the fourth quarter. abrdn plc now owns 234,027 shares of the technology company’s stock worth $17,231,000 after buying an additional 68,258 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Fortive by 3.9% in the fourth quarter. Xponance Inc. now owns 46,403 shares of the technology company’s stock valued at $3,417,000 after purchasing an additional 1,733 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fortive

In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the sale, the chief accounting officer now owns 20,564 shares in the company, valued at $1,689,743.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s 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 transaction, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at approximately $4,676,445. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock worth $5,475,122 over the last ninety days. 0.95% of the stock is owned by insiders.

Fortive Stock Performance

FTV stock traded up $0.75 during trading hours on Monday, hitting $80.24. 346,109 shares of the stock were exchanged, compared to its average volume of 1,602,113. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $28.19 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.43 and a beta of 1.13. The company has a 50-day simple moving average of $84.41 and a two-hundred day simple moving average of $76.05. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. Fortive’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. On average, analysts forecast that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 13.11%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FTV shares. Mizuho increased their target price on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Barclays upped their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Fortive has an average rating of “Moderate Buy” and an average price target of $86.54.

Fortive 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.