Nuveen Asset Management LLC Sells 219,439 Shares of Fortive Co. (NYSE:FTV)

Nuveen Asset Management LLC decreased its position in Fortive Co. (NYSE:FTV - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,277,714 shares of the technology company's stock after selling 219,439 shares during the period. Nuveen Asset Management LLC owned about 0.37% of Fortive worth $95,829,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its stake in Fortive by 5.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company's stock valued at $192,000 after acquiring an additional 127 shares in the last quarter. Wedmont Private Capital lifted its stake in Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company's stock valued at $252,000 after acquiring an additional 137 shares in the last quarter. Dynasty Wealth Management LLC lifted its stake in Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company's stock valued at $1,083,000 after acquiring an additional 142 shares in the last quarter. Manchester Capital Management LLC increased its position in shares of Fortive by 13.4% during 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 last quarter. Finally, Webster Bank N. A. increased its position 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 worth $202,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FTV. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research 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. Citigroup lowered 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. boosted their price target on Fortive from $73.00 to $87.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Truist Financial decreased their target price on Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Fortive currently has an average rating of "Moderate Buy" and an average target price of $81.92.

Insider Transactions at Fortive

In other Fortive news, CEO James A. Lico sold 175,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $72.40, for a total transaction of $12,670,000.00. Following the sale, the chief executive officer now directly owns 428,585 shares in the company, valued at $31,029,554. This represents a 28.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of the transaction, the chief financial officer now owns 76,126 shares of the company's stock, valued at $6,003,296.36. The trade was a 29.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 432,712 shares of company stock valued at $33,237,008. 1.01% of the stock is owned by corporate insiders.

Fortive Stock Performance

NYSE:FTV traded down $0.74 during mid-day trading on Tuesday, reaching $71.88. 3,606,680 shares of the company's stock were exchanged, compared to its average volume of 2,511,213. Fortive Co. has a one year low of $60.39 and a one year 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 business's fifty day simple moving average is $69.74 and its two-hundred day simple moving average is $74.90. The firm has a market capitalization 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 announced its earnings results on Thursday, May 1st. The technology company reported $0.85 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 last year, the firm earned $0.83 earnings per share. The business's revenue for the quarter was down 3.3% on a year-over-year basis. Analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be given 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 dividend yield of 0.45%. Fortive's payout ratio is 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.