Summit Investment Advisors Inc. Sells 168 Shares of Fortive Co. (NYSE:FTV)

Summit Investment Advisors Inc. lessened its position in shares of Fortive Co. (NYSE:FTV) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,674 shares of the technology company’s stock after selling 168 shares during the period. Summit Investment Advisors Inc.’s holdings in Fortive were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of FTV. Whipplewood Advisors LLC acquired a new stake in shares of Fortive in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc increased its holdings in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 297 shares in the last quarter. Crews Bank & Trust bought a new position in shares of Fortive in the 4th quarter valued at $37,000. Albion Financial Group UT bought a new position in shares of Fortive in the 4th quarter valued at $38,000. Finally, Dakota Community Bank & Trust NA grew its position in Fortive by 28.6% during the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FTV. Citigroup dropped their target price on Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Truist Financial cut their target price on shares of Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $90.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada raised their target price on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $81.92.

Insider Activity

In other news, CEO James A. Lico sold 196,117 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the completion of the sale, the chief executive officer now directly owns 528,851 shares of the company’s stock, valued at $42,509,043.38. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Christopher M. Mulhall sold 6,493 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the transaction, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 over the last quarter. 1.01% of the stock is currently owned by corporate insiders.

Fortive Price Performance

Fortive stock opened at $65.44 on Monday. The stock’s 50 day moving average price is $73.76 and its two-hundred day moving average price is $75.84. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.68 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a 52-week low of $60.39 and a 52-week high of $83.32.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the business earned $0.98 earnings per share. On average, equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.49%. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

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.