Ellevest Inc. Sells 156 Shares of Fortive Co. (NYSE:FTV)

Ellevest Inc. cut its holdings in Fortive Co. (NYSE:FTV) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,849 shares of the technology company’s stock after selling 156 shares during the period. Ellevest Inc.’s holdings in Fortive were worth $664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parvin Asset Management LLC bought a new stake in shares of Fortive in the 4th quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in Fortive during the fourth quarter worth $31,000. Crews Bank & Trust bought a new position in Fortive during the fourth quarter valued at $37,000. Quarry LP raised its stake in shares of Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company’s stock valued at $38,000 after acquiring an additional 349 shares during the period. Finally, Albion Financial Group UT purchased a new stake in shares of Fortive in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 0.9 %

Shares of NYSE:FTV opened at $70.45 on Friday. The company has a market capitalization of $23.94 billion, a PE ratio of 29.85, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32. The business’s fifty day simple moving average is $70.07 and its 200-day simple moving average is $74.91.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s dividend payout ratio (DPR) is presently 14.04%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FTV. JPMorgan Chase & Co. cut their price target on shares of Fortive from $90.00 to $73.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. BNP Paribas lowered Fortive from an “outperform” rating to a “neutral” rating and set a $67.00 price target for the company. in a research note on Wednesday, April 9th. Robert W. Baird reduced their target price on Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial reduced their price target on shares of Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada boosted their price objective on shares of Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.85.

Insiders Place Their Bets

In other news, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by corporate insiders.

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.