Associated Banc Corp Sells 3,587 Shares of Fortive Co. (NYSE:FTV)

Associated Banc Corp decreased its holdings in Fortive Co. (NYSE:FTV) by 23.0% in the fourth quarter, Holdings Channel reports. The firm owned 11,982 shares of the technology company’s stock after selling 3,587 shares during the quarter. Associated Banc Corp’s holdings in Fortive were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Intact Investment Management Inc. bought a new stake in shares of Fortive in the 4th quarter worth $74,000. Tredje AP fonden increased its holdings in shares of Fortive by 36.0% in the 4th quarter. Tredje AP fonden now owns 340,000 shares of the technology company’s stock worth $25,500,000 after purchasing an additional 90,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Fortive in the 4th quarter worth $5,238,000. Sequoia Financial Advisors LLC grew its holdings in shares of Fortive by 8.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 10,704 shares of the technology company’s stock worth $803,000 after acquiring an additional 876 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in shares of Fortive by 2.6% in the fourth quarter. King Luther Capital Management Corp now owns 584,627 shares of the technology company’s stock worth $43,847,000 after acquiring an additional 14,683 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 3,002 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,385 shares of company stock worth $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Shares of Fortive stock opened at $73.83 on Friday. The stock’s 50-day simple moving average is $78.81 and its 200-day simple moving average is $76.82. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the business earned $0.98 EPS. As a group, analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on FTV shares. Citigroup lowered Fortive from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Truist Financial lifted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Barclays cut their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.64.

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.