Park Avenue Securities LLC Sells 17,126 Shares of Fortive Co. (NYSE:FTV)

Park Avenue Securities LLC lowered its holdings in Fortive Co. (NYSE:FTV) by 41.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,094 shares of the technology company’s stock after selling 17,126 shares during the quarter. Park Avenue Securities LLC’s holdings in Fortive were worth $1,807,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FTV. Capital Performance Advisors LLP bought a new position in shares of Fortive during the 3rd quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Fortive during the 2nd quarter worth approximately $31,000. Pinnacle Bancorp Inc. raised its stake in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after acquiring an additional 176 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after acquiring an additional 297 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Fortive during the 3rd quarter worth approximately $41,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FTV has been the subject of several recent analyst reports. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada cut their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on shares of Fortive from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.45.

Fortive Stock Up 0.4 %

FTV stock opened at $79.00 on Friday. The firm’s fifty day simple moving average is $76.68 and its 200-day simple moving average is $74.81. The company has a market capitalization of $27.41 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. 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 Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. As a group, equities research analysts forecast that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

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.