AlTi Global Inc. Trims Holdings in Fortive Co. (NYSE:FTV)

AlTi Global Inc. lowered its position in Fortive Co. (NYSE:FTV - Free Report) by 35.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,392 shares of the technology company's stock after selling 10,447 shares during the period. AlTi Global Inc.'s holdings in Fortive were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Parvin Asset Management LLC purchased a new stake in shares of Fortive in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of Fortive during the fourth quarter valued at $31,000. Versant Capital Management Inc increased its stake in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after buying an additional 297 shares during the period. Crews Bank & Trust bought a new stake in shares of Fortive in the fourth quarter valued at about $37,000. Finally, Quarry LP lifted its stake in Fortive by 229.6% in the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after acquiring an additional 349 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now owns 76,126 shares of the company's stock, valued at $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 3,002 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now owns 42,373 shares of the company's stock, valued at $3,349,585.65. The trade was a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,385 shares of company stock valued at $19,508,529. Company insiders own 1.01% of the company's stock.

Fortive Stock Performance

Shares of Fortive stock traded down $0.18 on Tuesday, reaching $67.41. 3,482,287 shares of the stock were exchanged, compared to its average volume of 2,419,641. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32. The business has a 50 day moving average price of $70.86 and a two-hundred day moving average price of $75.10. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $22.91 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, hitting analysts' consensus estimates of $0.85. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. The business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. Fortive's payout ratio is 14.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FTV shares. Wells Fargo & Company boosted their price target on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Citigroup reduced their price target on Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada raised their price objective on Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, Barclays reduced their target price on shares of Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $80.75.

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.