Zurcher Kantonalbank Zurich Cantonalbank Sells 37,800 Shares of Fortive Co. (NYSE:FTV)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Fortive Co. (NYSE:FTV) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 334,234 shares of the technology company’s stock after selling 37,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Fortive worth $25,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wedmont Private Capital grew its position in shares of Fortive by 4.3% during the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock valued at $252,000 after acquiring an additional 137 shares during the period. Dynasty Wealth Management LLC boosted its position in Fortive by 1.0% during the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 142 shares in the last quarter. Patton Albertson Miller Group LLC grew its holdings in Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after purchasing an additional 150 shares during the period. Atria Investments Inc increased its position in shares of Fortive by 1.6% in the third quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock valued at $836,000 after buying an additional 163 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Fortive by 13.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock valued at $105,000 after buying an additional 165 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fortive news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares of the company’s stock, valued at $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company’s stock.

Fortive Stock Down 0.9 %

Shares of FTV opened at $74.22 on Wednesday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $78.93 and a two-hundred day simple moving average of $76.86. The company has a market capitalization of $25.26 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $0.98 earnings per share. As a group, equities analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is presently 13.56%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FTV shares. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Royal Bank of Canada lifted their target price on shares of Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, February 10th. Barclays reduced their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. 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 company has an average rating of “Moderate Buy” and a consensus price target of $87.64.

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.