Fortive Co. (NYSE:FTV - Get Free Report) SVP Stacey A. Walker sold 3,002 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $79.05, for a total value of $237,308.10. Following the transaction, the senior vice president now owns 42,373 shares of the company's stock, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Fortive Stock Down 2.4 %
NYSE FTV opened at $77.13 on Wednesday. The stock has a 50 day moving average price of $78.84 and a 200-day moving average price of $76.70. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a market capitalization of $26.25 billion, a P/E ratio of 32.68, a P/E/G ratio of 2.68 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.
Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS 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 last year, the company earned $0.98 earnings per share. As a group, equities analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.
Fortive Dividend Announcement
The business 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive's dividend payout ratio (DPR) is presently 13.56%.
Institutional Investors Weigh In On Fortive
Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in Fortive in the third quarter worth $25,000. Parvin Asset Management LLC bought a new stake in shares of Fortive in the 4th quarter worth about $26,000. Park Square Financial Group LLC bought a new stake in shares of Fortive in the 4th quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in shares of Fortive during the 4th quarter worth about $31,000. Finally, Versant Capital Management Inc grew its holdings 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 purchasing an additional 297 shares during the last quarter. 94.94% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. StockNews.com cut Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. UBS Group began coverage on Fortive in a research report on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 price objective on the stock. Royal Bank of Canada increased their target price on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. Finally, Truist Financial boosted their price target on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $87.64.
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Fortive Company Profile
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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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