Janney Montgomery Scott LLC Has $807,000 Stock Position in Fortive Co. (NYSE:FTV)

Janney Montgomery Scott LLC decreased its holdings in Fortive Co. (NYSE:FTV) by 27.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,761 shares of the technology company’s stock after selling 4,045 shares during the period. Janney Montgomery Scott LLC’s holdings in Fortive were worth $807,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FTV. Cetera Investment Advisers raised its position in Fortive by 7.5% in the 2nd quarter. Cetera Investment Advisers now owns 56,497 shares of the technology company’s stock valued at $4,187,000 after purchasing an additional 3,951 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Fortive during the second quarter worth $985,000. Czech National Bank lifted its holdings in shares of Fortive by 6.4% during the 3rd quarter. Czech National Bank now owns 71,368 shares of the technology company’s stock valued at $5,633,000 after purchasing an additional 4,286 shares in the last quarter. GAMMA Investing LLC lifted its position in Fortive by 65.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,683 shares of the technology company’s stock valued at $133,000 after acquiring an additional 663 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Fortive by 50.3% in the 3rd quarter. Mather Group LLC. now owns 926 shares of the technology company’s stock valued at $73,000 after acquiring an additional 310 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Barclays lowered their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Truist Financial lifted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, UBS Group initiated coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.45.

Fortive Stock Up 0.3 %

Shares of FTV opened at $79.76 on Friday. The stock has a 50 day simple moving average of $77.65 and a two-hundred day simple moving average of $75.32. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The firm has a market cap of $27.67 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.18 and a beta of 1.15. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.