Farther Finance Advisors LLC Sells 136 Shares of Fortive Co. (NYSE:FTV)

Farther Finance Advisors LLC lowered its position in shares of Fortive Co. (NYSE:FTV) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,483 shares of the technology company’s stock after selling 136 shares during the quarter. Farther Finance Advisors LLC’s holdings in Fortive were worth $336,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after purchasing an additional 1,761,983 shares during the period. Janus Henderson Group PLC lifted its stake in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after buying an additional 977,428 shares during the period. Holocene Advisors LP boosted its holdings in shares of Fortive by 1,014.1% during the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after buying an additional 841,671 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Fortive by 59.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after buying an additional 505,882 shares during the period. Finally, Clarkston Capital Partners LLC bought a new stake in shares of Fortive in the 3rd quarter valued at $25,930,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the transaction, the chief accounting officer now directly owns 24,283 shares of the company’s stock, valued at $1,941,425.85. This represents a 21.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now directly owns 42,373 shares in the company, valued at $3,349,585.65. This trade represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock worth $19,508,529 in the last quarter. 1.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FTV. Barclays cut their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company raised their target price on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com lowered 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.64.

Fortive Price Performance

FTV opened at $74.71 on Tuesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 2.68 and a beta of 1.16. The firm’s fifty day moving average price is $78.78 and its two-hundred day moving average price is $76.86.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $0.98 earnings per share. As a group, analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend 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.