Fulton Bank N.A. Has $404,000 Position in Fortive Co. (NYSE:FTV)

Fulton Bank N.A. lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,393 shares of the technology company’s stock after selling 153 shares during the period. Fulton Bank N.A.’s holdings in Fortive were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after buying an additional 46,704 shares during the last quarter. Janus Henderson Group PLC increased its position in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the period. Mizuho Securities USA LLC raised its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after purchasing an additional 103,530 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Fortive Stock Down 1.9 %

Shares of NYSE:FTV opened at $75.32 on Friday. The company has a 50 day moving average of $76.22 and a 200-day moving average of $74.64. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 2.11 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

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

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive’s payout ratio is currently 12.75%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FTV shares. Barclays reduced their target price on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Wells Fargo & Company boosted their price objective on Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and a consensus target price of $86.64.

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.