Fortive Co. (NYSE:FTV) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Fortive Co. (NYSE:FTV) by 3.1% in the fourth quarter, Holdings Channel reports. The firm owned 299,873 shares of the technology company’s stock after selling 9,459 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fortive were worth $22,080,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Ronald Blue Trust Inc. grew its stake in Fortive by 5.1% in the third quarter. Ronald Blue Trust Inc. now owns 2,865 shares of the technology company’s stock worth $214,000 after purchasing an additional 138 shares in the last quarter. RFG Advisory LLC grew its stake in Fortive by 2.4% in the third quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock worth $491,000 after purchasing an additional 153 shares in the last quarter. Brighton Jones LLC grew its stake in Fortive by 5.3% in the third quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock worth $237,000 after purchasing an additional 160 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in Fortive by 4.9% in the third quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock valued at $260,000 after acquiring an additional 165 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in Fortive by 17.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after acquiring an additional 167 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fortive news, CEO Tamara S. Newcombe sold 5,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total value of $425,000.00. Following the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at $4,676,445. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the transaction, the chief accounting officer now directly owns 20,564 shares in the company, valued at approximately $1,689,743.88. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock valued at $5,475,122 over the last quarter. Corporate insiders own 0.95% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV opened at $80.20 on Thursday. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.48 and a beta of 1.13. The stock’s 50 day moving average price is $84.52 and its 200 day moving average price is $75.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s payout ratio is 13.11%.

Analyst Ratings Changes

FTV has been the subject of a number of research reports. Mizuho lifted their target price on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Barclays lifted their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Truist Financial initiated coverage on Fortive in a research note on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price for the company. Finally, Vertical Research downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.54.

Fortive 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.