NYSE:FTV - Free Report ) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 132,090 shares of the technology company's stock after selling 11,040 shares during the period. Cullen Frost Bankers Inc.'s holdings in Fortive were worth $9,726,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in shares of Fortive during the third quarter worth about $25,000. Cornerstone Planning Group LLC bought a new position in Fortive in the 3rd quarter worth approximately $28,000. Cetera Trust Company N.A bought a new position in Fortive in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new stake in Fortive during the 3rd quarter valued at approximately $30,000. Finally, Spire Wealth Management raised its position in shares of Fortive by 69.3% during the fourth quarter. Spire Wealth Management now owns 508 shares of the technology company's stock valued at $37,000 after buying an additional 208 shares during the last quarter. 94.94% of the stock is owned by institutional investors.
Fortive Trading Down 0.7 % Fortive stock traded down $0.51 during midday trading on Wednesday, reaching $76.53. The stock had a trading volume of 1,387,019 shares, compared to its average volume of 1,711,380. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The company has a fifty day moving average of $82.58 and a 200 day moving average of $76.27. The firm has a market cap of $26.94 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.38.
Fortive (NYSE:FTV - Get Free Report ) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. On average, analysts anticipate that Fortive Co. will post 3.81 earnings per share for the current fiscal year.
Fortive Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, May 31st. Fortive's dividend payout ratio is currently 12.65%.
Insider Activity In related news, CAO Christopher M. Mulhall sold 8,994 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares of the company's stock, valued at approximately $1,689,743.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link . In related news, CAO Christopher M. Mulhall sold 8,994 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares of the company's stock, valued at $1,689,743.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website . Also, CEO Tamara S. Newcombe sold 5,000 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the chief executive officer now owns 55,017 shares in the company, valued at $4,676,445. The disclosure for this sale can be found here . Over the last ninety days, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by company insiders.
Analysts Set New Price Targets Several research analysts have commented on the stock. Barclays increased their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Citigroup reduced their price objective on Fortive from $101.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada lowered their target price on Fortive from $93.00 to $83.00 and set a "sector perform" rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of Fortive from an "overweight" rating to a "neutral" rating and cut their target price for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Finally, Truist Financial started coverage on shares of Fortive in a research note on Thursday, March 14th. They set a "buy" rating and a $99.00 price target on the stock. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $86.46.
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About Fortive (
Free Report )
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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