Fortive (NYSE:FTV) SVP Sells $110,367.20 in Stock

Fortive Corporation (NYSE:FTV) SVP Stacey Walker sold 2,192 shares of Fortive stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Fortive Price Performance

NYSE:FTV traded down $0.32 during trading hours on Monday, hitting $50.02. 3,374,395 shares of the stock traded hands, compared to its average volume of 2,684,025. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.03 and a beta of 1.16. The stock has a 50 day moving average price of $48.86 and a 200 day moving average price of $56.86.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The business had revenue of $1.07 billion for the quarter. Sell-side analysts forecast that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s dividend payout ratio is currently 13.71%.

Institutional Investors Weigh In On Fortive

Several hedge funds and other institutional investors have recently made changes to their positions in FTV. True Wealth Design LLC raised its stake in shares of Fortive by 815.4% in the second quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after acquiring an additional 424 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Fortive in the first quarter valued at $26,000. Quent Capital LLC purchased a new stake in shares of Fortive in the third quarter valued at $28,000. Exchange Traded Concepts LLC raised its stake in shares of Fortive by 46.7% in the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after acquiring an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FTV. Barclays upped their target price on shares of Fortive from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday. Morgan Stanley restated an “equal weight” rating and set a $50.00 target price (down previously from $90.00) on shares of Fortive in a research report on Tuesday, September 2nd. TD Cowen lowered shares of Fortive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $85.00 to $50.00 in a research report on Tuesday, July 15th. Wall Street Zen upgraded shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.79.

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.