VeraBank N.A. Sells 133 Shares of Fortive Co. (NYSE:FTV)

VeraBank N.A. lowered its holdings in shares of Fortive Co. (NYSE:FTV) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,135 shares of the technology company’s stock after selling 133 shares during the quarter. VeraBank N.A.’s holdings in Fortive were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FTV. OFI Invest Asset Management bought a new position in Fortive during the third quarter valued at about $25,000. Cornerstone Planning Group LLC bought a new stake in Fortive during the third quarter worth approximately $28,000. Cetera Trust Company N.A bought a new stake in Fortive during the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in Fortive during the third quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC bought a new position in shares of Fortive in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

FTV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of Fortive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $90.00 in a research note on Wednesday, April 17th. Truist Financial assumed coverage on Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 price objective for the company. Barclays raised their target price on Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Citigroup cut their price target on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $86.46.

Insider Activity at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the sale, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Christopher M. Mulhall sold 8,994 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tamara S. Newcombe sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the sale, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock valued at $5,475,122 in the last ninety days. Insiders own 0.95% of the company’s stock.

Fortive Price Performance

Shares of Fortive stock traded down $0.02 during trading on Friday, hitting $76.08. 2,306,506 shares of the company’s stock traded hands, compared to its average volume of 1,905,884. The company has a market cap of $26.78 billion, a PE ratio of 30.07, a PEG ratio of 2.22 and a beta of 1.15. The firm’s fifty day moving average price is $82.94 and its 200 day moving average price is $76.15. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a return on equity of 12.22% and a net margin of 14.68%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.53 billion. Analysts forecast that Fortive Co. will post 3.81 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st 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 0.42%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is currently 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.