Fortive Co. (NYSE:FTV) SVP Sells $237,308.10 in Stock

Fortive Co. (NYSE:FTV) SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Fortive Stock Up 1.4 %

Shares of FTV stock opened at $78.28 on Thursday. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.68 and a beta of 1.15. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company’s fifty day moving average price is $78.90 and its 200-day moving average price is $76.71. 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 (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same quarter in the previous year, the business earned $0.98 earnings per share. Sell-side analysts expect 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, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive’s payout ratio is 13.56%.

Hedge Funds Weigh In On Fortive

Institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in Fortive during the third quarter valued at $25,000. Parvin Asset Management LLC purchased a new position in Fortive during the fourth quarter valued at $26,000. Park Square Financial Group LLC purchased a new position in Fortive during the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in Fortive during the fourth quarter valued at $31,000. Finally, Versant Capital Management Inc grew its stake in Fortive by 186.8% during the fourth 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. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FTV. Barclays decreased their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. Royal Bank of Canada increased their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.64.

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.