Bank of America Corp DE decreased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 40.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,932,863 shares of the technology company's stock after selling 1,985,880 shares during the period. Bank of America Corp DE owned 0.85% of Fortive worth $219,965,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of Fortive by 9.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company's stock valued at $3,221,036,000 after acquiring an additional 3,810,997 shares during the last quarter. Flossbach Von Storch SE grew its position in Fortive by 1.2% during the fourth quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock valued at $892,743,000 after buying an additional 137,479 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Fortive by 164.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,730,161 shares of the technology company's stock worth $654,763,000 after buying an additional 5,429,566 shares during the last quarter. Geode Capital Management LLC raised its position in Fortive by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company's stock worth $620,480,000 after acquiring an additional 103,015 shares during the period. Finally, Boston Partners lifted its stake in Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company's stock valued at $594,108,000 after purchasing an additional 166,123 shares during the last quarter. Institutional investors own 94.94% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on FTV. Wells Fargo & Company raised their price target on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Robert W. Baird lowered their price target on Fortive from $88.00 to $82.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, BNP Paribas downgraded Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price target on the stock. in a report on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.85.
Check Out Our Latest Report on Fortive
Fortive Price Performance
FTV traded up $3.29 on Monday, reaching $73.81. The company had a trading volume of 4,190,913 shares, compared to its average volume of 2,457,943. 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 one year low of $60.39 and a one year high of $83.32. The company has a market capitalization of $25.09 billion, a P/E ratio of 31.28, a PEG ratio of 2.68 and a beta of 1.10. The company has a fifty day moving average of $70.07 and a 200-day moving average of $74.91.
Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The company 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%. Fortive's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 EPS. As a group, equities research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.
Fortive Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive's dividend payout ratio (DPR) is presently 14.04%.
Insider Buying and Selling
In other Fortive news, 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 in the company, valued at approximately $3,349,585.65. The trade was a 6.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James A. Lico sold 196,117 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. This trade represents a 27.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 over the last three months. 1.01% of the stock is currently owned by company insiders.
About Fortive
(
Free Report)
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.
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