Greenleaf Trust Sells 816 Shares of Fortive Co. (NYSE:FTV)

Greenleaf Trust reduced its position in shares of Fortive Co. (NYSE:FTV) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,916 shares of the technology company’s stock after selling 816 shares during the period. Greenleaf Trust’s holdings in Fortive were worth $1,835,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FTV. OFI Invest Asset Management acquired a new position in Fortive during the 3rd quarter valued at $25,000. PCA Investment Advisory Services Inc. acquired a new position in Fortive during the 2nd quarter valued at $26,000. Cornerstone Planning Group LLC acquired a new position in Fortive during the 3rd quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in Fortive during the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC acquired a new position in Fortive during the 4th quarter valued at $38,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on FTV. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and cut their target price for the company from $95.00 to $90.00 in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 1st. Vertical Research cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Barclays increased their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Fortive has a consensus rating of “Moderate Buy” and a consensus target price of $86.54.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The disclosure for this sale can be found here. Insiders sold a total of 63,937 shares of company stock valued at $5,475,122 over the last ninety days. 0.95% of the stock is currently owned by company insiders.

Fortive Trading Down 0.9 %

FTV opened at $79.49 on Friday. The firm has a 50-day moving average price of $84.41 and a two-hundred day moving average price of $76.04. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $87.10. The company has a current ratio of 2.05, a quick ratio of 1.75 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $27.93 billion, a PE ratio of 32.58, a PEG ratio of 2.43 and a beta of 1.13.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.05. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that Fortive Co. will post 3.78 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is 13.11%.

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.