Williams Jones Wealth Management LLC. Trims Holdings in Fortive Co. (NYSE:FTV)

Williams Jones Wealth Management LLC. trimmed its holdings in Fortive Co. (NYSE:FTV - Free Report) by 80.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,042 shares of the technology company's stock after selling 256,017 shares during the quarter. Williams Jones Wealth Management LLC.'s holdings in Fortive were worth $4,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock worth $2,832,000 after acquiring an additional 7,829 shares during the last quarter. Asahi Life Asset Management CO. LTD. bought a new position in Fortive in the 4th quarter worth about $358,000. OFI Invest Asset Management bought a new position in Fortive in the 4th quarter worth about $17,750,000. Raymond James Financial Inc. purchased a new stake in Fortive during the 4th quarter valued at about $22,412,000. Finally, Novare Capital Management LLC increased its stake in Fortive by 9.0% during the 4th quarter. Novare Capital Management LLC now owns 94,638 shares of the technology company's stock valued at $7,098,000 after purchasing an additional 7,844 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FTV has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. BNP Paribas downgraded Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 target price on the stock. in a research note on Wednesday, April 9th. Truist Financial reduced their target price on Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Fortive presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.92.

Insider Activity

In other news, SVP Peter C. Underwood sold 14,327 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $73.88, for a total value of $1,058,478.76. Following the transaction, the senior vice president now owns 51,750 shares of the company's stock, valued at $3,823,290. This trade represents a 21.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $79.05, for a total value of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $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. Insiders sold a total of 432,712 shares of company stock valued at $33,237,008 in the last 90 days. Company insiders own 1.01% of the company's stock.

Fortive Stock Down 1.0%

Fortive stock opened at $71.88 on Wednesday. Fortive Co. has a one year low of $60.39 and a one year high of $83.32. The stock has a fifty day moving average of $69.74 and a 200 day moving average of $74.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The stock has a market cap of $24.43 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $0.83 EPS. The business's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio is presently 14.04%.

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.

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