Fortive Co. (NYSE:FTV) Stake Lessened by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 91.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,896 shares of the technology company's stock after selling 1,778,257 shares during the quarter. Point72 Asset Management L.P.'s holdings in Fortive were worth $11,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FTV. Parvin Asset Management LLC purchased a new stake in shares of Fortive during the fourth quarter worth about $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Fortive during the fourth quarter worth about $31,000. Crews Bank & Trust purchased a new stake in shares of Fortive during the fourth quarter worth about $37,000. Albion Financial Group UT purchased a new stake in shares of Fortive during the fourth quarter worth about $38,000. Finally, Quarry LP grew its holdings in shares of Fortive by 229.6% during the fourth quarter. Quarry LP now owns 501 shares of the technology company's stock worth $38,000 after buying an additional 349 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the transaction, the senior vice president now directly owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James A. Lico sold 196,117 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at approximately $42,509,043.38. The trade was a 27.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 432,712 shares of company stock valued at $33,237,008 over the last ninety days. Corporate insiders own 1.01% of the company's stock.

Fortive Trading Down 0.7%

FTV stock traded down $0.46 during midday trading on Friday, reaching $69.69. 3,464,227 shares of the company's stock traded hands, compared to its average volume of 2,541,438. The company has a market capitalization of $23.69 billion, a P/E ratio of 29.53, a PEG ratio of 2.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a fifty-two week low of $60.39 and a fifty-two week high of $83.32. The business has a 50-day moving average price of $69.49 and a two-hundred day moving average price of $74.84.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates of $0.85. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Fortive had a net margin of 13.36% and a return on equity of 13.15%. Fortive's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.83 earnings per share. Equities research analysts forecast that Fortive Co. will post 4.05 EPS 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 given a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. Fortive's dividend payout ratio (DPR) is 14.04%.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of recent research reports. BNP Paribas downgraded shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price target for the company. in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Wall Street Zen downgraded shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on shares of Fortive from $68.00 to $72.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Finally, Citigroup lowered their target price on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Fortive has a consensus rating of "Moderate Buy" and an average price target of $81.92.

Fortive 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.