Fortive Co. (NYSE:FTV) Stock Position Lowered by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Fortive Co. (NYSE:FTV) by 45.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,404 shares of the technology company’s stock after selling 11,111 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Fortive were worth $1,005,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in shares of Fortive during the fourth quarter valued at $31,000. Versant Capital Management Inc grew its stake in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Fortive in the fourth quarter worth approximately $37,000. Albion Financial Group UT purchased a new stake in shares of Fortive in the fourth quarter worth approximately $38,000. Finally, Dakota Community Bank & Trust NA boosted its holdings in shares of Fortive by 28.6% during the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after purchasing an additional 175 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FTV shares. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Truist Financial increased their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. Wells Fargo & Company raised their price target on Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was 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 of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 76,126 shares in the company, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock valued at $19,508,529 in the last ninety days. Company insiders own 1.01% of the company’s stock.

Fortive Stock Performance

Shares of FTV opened at $74.84 on Friday. The company has a market capitalization of $25.47 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a one year low of $66.15 and a one year high of $86.21. The company’s fifty day moving average price is $78.65 and its 200 day moving average price is $76.86.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

Fortive Company 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.