Bank Julius Baer & Co. Ltd Zurich Sells 53,039 Shares of Fortive Co. (NYSE:FTV)

Bank Julius Baer & Co. Ltd Zurich lowered its stake in shares of Fortive Co. (NYSE:FTV) by 62.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,481 shares of the technology company’s stock after selling 53,039 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Fortive were worth $2,392,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FTV. Brighton Jones LLC grew its holdings in Fortive by 5.3% in the 3rd quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock valued at $237,000 after buying an additional 160 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in shares of Fortive by 4.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock worth $260,000 after buying an additional 165 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Fortive by 17.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after buying an additional 167 shares during the last quarter. Bahl & Gaynor Inc. raised its position in Fortive by 2.6% in the third quarter. Bahl & Gaynor Inc. now owns 7,433 shares of the technology company’s stock valued at $551,000 after purchasing an additional 189 shares during the last quarter. Finally, Guinness Asset Management LTD grew its holdings in shares of Fortive by 2.5% during the third quarter. Guinness Asset Management LTD now owns 7,865 shares of the technology company’s stock worth $583,000 after purchasing an additional 193 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’s stock in a transaction dated 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 directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the firm’s stock in a transaction dated 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 directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tamara S. Newcombe sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the completion of the transaction, the chief executive officer now directly owns 55,017 shares in the company, valued at $4,676,445. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock valued at $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive Trading Down 0.3 %

NYSE:FTV opened at $75.97 on Friday. The company has a 50-day moving average price of $83.83 and a 200-day moving average price of $76.13. The company has a current ratio of 1.50, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 30.03, a P/E/G ratio of 2.31 and a beta of 1.13. Fortive Co. has a 12 month low of $62.77 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last posted its quarterly 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. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Equities analysts predict that Fortive Co. will post 3.8 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s payout ratio is 12.65%.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday. Truist Financial began coverage on Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 price objective on the stock. Vertical Research lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Barclays increased their price target on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.46.

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.