Stacey Walker Sells 2,192 Shares of Fortive (NYSE:FTV) Stock

Fortive Corporation (NYSE:FTV) SVP Stacey Walker sold 2,192 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Fortive Price Performance

FTV stock opened at $50.30 on Wednesday. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $48.89 and a two-hundred day simple moving average of $56.75. The firm has a market capitalization of $15.98 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 3.02 and a beta of 1.16.

Fortive (NYSE:FTV) last released its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The business had revenue of $1.07 billion during the quarter. Analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 12th. This represents a $0.24 annualized dividend and a yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 13.71%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its position in Fortive by 11.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock valued at $790,000 after purchasing an additional 1,076 shares during the period. Drake & Associates LLC boosted its holdings in shares of Fortive by 28.7% in the 1st quarter. Drake & Associates LLC now owns 22,298 shares of the technology company’s stock valued at $1,632,000 after buying an additional 4,978 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Fortive in the 1st quarter valued at about $3,542,000. Private Advisor Group LLC bought a new stake in shares of Fortive in the 1st quarter valued at about $876,000. Finally, FORA Capital LLC bought a new stake in shares of Fortive in the 1st quarter valued at about $1,434,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial reiterated a “hold” rating and set a $58.00 price objective (up previously from $55.00) on shares of Fortive in a research report on Thursday, October 30th. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Melius Research upgraded shares of Fortive to a “hold” rating in a report on Tuesday, July 22nd. TD Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $50.00 in a report on Tuesday, July 15th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $50.00 target price (down previously from $90.00) on shares of Fortive in a report on Tuesday, September 2nd. Three research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.07.

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.