Fortive Co. (NYSE:FTV) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,514 shares of the technology company’s stock after selling 1,815 shares during the quarter. Bath Savings Trust Co’s holdings in Fortive were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FTV. Rafferty Asset Management LLC increased its position in Fortive by 5.3% in the 4th quarter. Rafferty Asset Management LLC now owns 29,481 shares of the technology company’s stock valued at $2,171,000 after acquiring an additional 1,489 shares during the period. Crossmark Global Holdings Inc. grew its position in Fortive by 6.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,957 shares of the technology company’s stock valued at $1,322,000 after buying an additional 1,082 shares in the last quarter. American International Group Inc. increased its stake in Fortive by 3.4% during the 4th quarter. American International Group Inc. now owns 96,377 shares of the technology company’s stock valued at $7,096,000 after buying an additional 3,214 shares during the period. Sei Investments Co. raised its position in shares of Fortive by 1.1% during the 4th quarter. Sei Investments Co. now owns 681,630 shares of the technology company’s stock worth $50,188,000 after buying an additional 7,636 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its position in Fortive by 3.9% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 30,734 shares of the technology company’s stock worth $2,263,000 after purchasing an additional 1,143 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FTV shares. Truist Financial dropped their price target on shares of Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company boosted their target price on Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a report on Friday, September 6th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Finally, TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their price target for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Fortive has an average rating of “Moderate Buy” and an average target price of $86.75.

Fortive Trading Down 0.8 %

NYSE:FTV opened at $76.32 on Tuesday. The company’s 50 day moving average is $72.92 and its 200-day moving average is $75.56. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The firm has a market cap of $26.87 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.22 and a beta of 1.12.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio is 12.65%.

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.