Fortive Co. (NYSE:FTV) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. trimmed its position in Fortive Co. (NYSE:FTV - Free Report) by 39.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,013,191 shares of the technology company's stock after selling 666,355 shares during the quarter. Balyasny Asset Management L.P. owned about 0.29% of Fortive worth $75,989,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FTV. T. Rowe Price Investment Management Inc. raised its holdings in shares of Fortive by 9.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 42,947,135 shares of the technology company's stock worth $3,221,036,000 after acquiring an additional 3,810,997 shares in the last quarter. Flossbach Von Storch SE lifted 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 purchasing an additional 137,479 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Fortive by 164.5% in the 4th 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fortive by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 8,294,930 shares of the technology company's stock worth $620,480,000 after buying an additional 103,015 shares during the last quarter. Finally, Boston Partners raised its position in shares of Fortive by 2.1% during the 4th quarter. Boston Partners now owns 7,904,282 shares of the technology company's stock valued at $594,108,000 after buying an additional 166,123 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now directly owns 47,141 shares in the company, valued at approximately $3,795,793.32. The trade was a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the sale, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. 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 90 days. Company insiders own 1.01% of the company's stock.

Fortive Stock Up 0.9 %

NYSE FTV traded up $0.62 on Friday, reaching $70.45. 3,456,609 shares of the stock traded hands, compared to its average volume of 2,447,247. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.32. 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 company has a fifty day moving average price of $70.07 and a 200-day moving average price of $74.91. The company has a market cap of $23.94 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.68 and a beta of 1.10.

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

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. Fortive's dividend payout ratio is currently 14.04%.

Analyst Ratings Changes

FTV has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Barclays cut their target price on Fortive from $85.00 to $84.00 and set an "overweight" rating on the stock in a research report on Tuesday. Truist Financial dropped their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company increased their target price on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada lifted their price target on shares of Fortive from $68.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.85.

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.