Fortive Co. (NYSE:FTV) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,582 shares of the technology company’s stock after selling 1,095 shares during the quarter. Summit Trail Advisors LLC’s holdings in Fortive were worth $562,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FTV. Janus Henderson Group PLC lifted its position in shares of Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares during the last quarter. Boston Partners raised its stake in Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after buying an additional 1,045,245 shares in the last quarter. Kodai Capital Management LP bought a new position in Fortive during the 4th quarter worth approximately $45,557,000. Nordea Investment Management AB grew its position in shares of Fortive by 70.1% in the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after acquiring an additional 369,351 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Fortive by 27.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock valued at $94,041,000 after acquiring an additional 273,168 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

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

Analyst Ratings Changes

Several equities analysts recently issued reports on FTV shares. Wells Fargo & Company reduced their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Truist Financial cut their price target on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average target price of $86.23.

Fortive Stock Down 1.2 %

FTV stock opened at $76.34 on Monday. The firm’s 50-day moving average is $72.43 and its two-hundred day moving average is $76.12. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $26.87 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10.

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 return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts forecast that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

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.