Fortive Co. (NYSE:FTV) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in Fortive Co. (NYSE:FTV) by 27.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,761 shares of the technology company’s stock after selling 4,045 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fortive were worth $807,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FTV. Geode Capital Management LLC grew its position in shares of Fortive by 0.6% during the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after acquiring an additional 46,704 shares during the last quarter. Janus Henderson Group PLC raised its position in Fortive by 13.8% in the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC grew its position in Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after buying an additional 3,972,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Fortive by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after purchasing an additional 103,530 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Fortive by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock worth $155,081,000 after acquiring an additional 24,539 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Price Performance

Shares of Fortive stock opened at $79.76 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average price is $77.65 and its two-hundred day moving average price is $75.32. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The stock has a market cap of $27.67 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Activity

In related news, SVP Peter C. Underwood sold 5,000 shares of Fortive 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 completion of the sale, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on FTV shares. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada decreased their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.45.

About Fortive

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.