Dakota Wealth Management Cuts Stock Holdings in Fortive Co. (NYSE:FTV)

Dakota Wealth Management lessened its position in shares of Fortive Co. (NYSE:FTV) by 44.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,527 shares of the technology company’s stock after selling 5,237 shares during the quarter. Dakota Wealth Management’s holdings in Fortive were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FTV. Geode Capital Management LLC raised its stake in shares of Fortive by 0.6% during the 3rd 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 period. Janus Henderson Group PLC boosted its stake 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 buying an additional 977,428 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in Fortive by 14,635.7% in 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 buying an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $271,851,000 after acquiring an additional 103,530 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Fortive by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock worth $155,081,000 after acquiring an additional 24,539 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Up 0.4 %

Fortive stock opened at $80.55 on Friday. The stock has a 50-day simple moving average of $77.14 and a 200-day simple moving average of $75.07. The company has a market capitalization of $27.95 billion, a P/E ratio of 32.09, a PEG ratio of 2.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. Equities research analysts expect that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group began coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. JPMorgan Chase & Co. lowered their price objective 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. Royal Bank of Canada decreased their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.45.

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.