ProShare Advisors LLC Sells 4,934 Shares of Fortive Corporation $FTV

ProShare Advisors LLC trimmed its holdings in Fortive Corporation (NYSE:FTV) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,505 shares of the technology company’s stock after selling 4,934 shares during the period. ProShare Advisors LLC’s holdings in Fortive were worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Redmond Asset Management LLC grew its position in shares of Fortive by 1.0% in the 1st quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock valued at $1,062,000 after purchasing an additional 142 shares during the period. Capital Analysts LLC lifted its stake in Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after buying an additional 152 shares in the last quarter. Forum Financial Management LP lifted its stake in Fortive by 2.3% in the first quarter. Forum Financial Management LP now owns 7,119 shares of the technology company’s stock valued at $521,000 after buying an additional 161 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Fortive by 19.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 1,092 shares of the technology company’s stock valued at $80,000 after buying an additional 175 shares during the period. Finally, Meeder Advisory Services Inc. increased its position in shares of Fortive by 3.7% during the first quarter. Meeder Advisory Services Inc. now owns 5,591 shares of the technology company’s stock worth $409,000 after acquiring an additional 199 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Performance

FTV opened at $51.62 on Friday. The business’s 50-day simple moving average is $49.48 and its 200 day simple moving average is $56.02. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The firm has a market capitalization of $16.40 billion, a PE ratio of 29.50, a PEG ratio of 3.13 and a beta of 1.16.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The firm had revenue of $1.07 billion during the quarter. As a group, sell-side analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Fortive’s dividend payout ratio is 13.71%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. 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 value of $110,367.20. Following the completion of the sale, the senior vice president owned 59,488 shares in the company, valued at $2,995,220.80. This trade represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FTV shares. Wall Street Zen raised shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Truist Financial reissued a “hold” rating and issued a $58.00 price target (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Fortive in a report on Thursday. Finally, Melius Research raised Fortive to a “hold” rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.38.

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.