Nuveen Asset Management LLC Decreases Stake in Fortive Co. (NYSE:FTV)

Nuveen Asset Management LLC reduced its holdings in Fortive Co. (NYSE:FTV - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,277,714 shares of the technology company's stock after selling 219,439 shares during the quarter. Nuveen Asset Management LLC owned about 0.37% of Fortive worth $95,829,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its stake in Fortive by 5.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock worth $192,000 after acquiring an additional 127 shares during the period. Wedmont Private Capital raised its holdings in Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock worth $252,000 after purchasing an additional 137 shares in the last quarter. Dynasty Wealth Management LLC lifted its position in shares of Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock worth $1,083,000 after purchasing an additional 142 shares during the period. Manchester Capital Management LLC lifted its position in shares of Fortive by 13.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company's stock worth $105,000 after purchasing an additional 165 shares during the period. Finally, Webster Bank N. A. boosted its stake in shares of Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company's stock valued at $202,000 after purchasing an additional 168 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the transaction, the senior vice president now owns 47,141 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business's 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 transaction, the chief financial officer now owns 76,126 shares of the company's stock, valued at approximately $6,003,296.36. This trade represents a 29.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 432,712 shares of company stock valued at $33,237,008. Insiders own 1.01% of the company's stock.

Fortive Trading Up 0.1%

Shares of NYSE:FTV traded up $0.07 during trading on Thursday, reaching $70.17. The company's stock had a trading volume of 531,301 shares, compared to its average volume of 2,514,017. The stock has a market capitalization of $23.85 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10. Fortive Co. has a 12 month low of $60.39 and a 12 month high of $83.32. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm's 50 day simple moving average is $69.67 and its two-hundred day simple moving average is $74.85.

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

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, May 30th. Fortive's dividend payout ratio (DPR) is currently 14.04%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FTV. Barclays lowered their price objective on Fortive from $85.00 to $84.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird lowered their price target on shares of Fortive from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Citigroup dropped their price target on Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their price objective on shares of Fortive from $73.00 to $87.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Truist Financial cut their price target on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Fortive currently 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.