Fortive Co. (NYSE:FTV) Shares Sold by Hartford Financial Management Inc.

Hartford Financial Management Inc. reduced its stake in shares of Fortive Co. (NYSE:FTV) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,688 shares of the technology company’s stock after selling 218 shares during the quarter. Hartford Financial Management Inc.’s holdings in Fortive were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new position in Fortive during the third quarter worth about $1,080,000. Andina Capital Management LLC grew its position in Fortive by 3.4% during the third quarter. Andina Capital Management LLC now owns 4,585 shares of the technology company’s stock worth $362,000 after buying an additional 152 shares during the period. PFG Investments LLC acquired a new position in Fortive during the third quarter worth about $247,000. Forsta AP Fonden grew its position in Fortive by 12.0% during the third quarter. Forsta AP Fonden now owns 76,700 shares of the technology company’s stock worth $6,054,000 after buying an additional 8,200 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Fortive by 24.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,673 shares of the technology company’s stock worth $2,350,000 after buying an additional 5,909 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on FTV. Wells Fargo & Company lowered their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday. Truist Financial increased their price target on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Barclays reduced their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and upped their price objective for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.30.

Insider Transactions at Fortive

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Fortive Stock Performance

NYSE:FTV opened at $71.44 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The company has a market cap of $25.03 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.09 and a beta of 1.12. Fortive Co. has a fifty-two week low of $64.44 and a fifty-two week high of $87.10. The firm’s 50 day moving average is $75.31 and its two-hundred day moving average is $74.55.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Analysts expect that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s payout ratio is currently 12.75%.

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.