Fortive Co. (NYSE:FTV) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 14.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,663 shares of the technology company’s stock after selling 11,324 shares during the period. M&T Bank Corp’s holdings in Fortive were worth $4,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in Fortive by 5.3% during the third quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock worth $237,000 after acquiring an additional 160 shares during the period. TCI Wealth Advisors Inc. boosted its position in Fortive by 4.9% during the third quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock worth $260,000 after purchasing an additional 165 shares in the last quarter. Global Retirement Partners LLC boosted its position in Fortive by 17.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock worth $80,000 after purchasing an additional 167 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in Fortive by 2.6% during the third quarter. Bahl & Gaynor Inc. now owns 7,433 shares of the technology company’s stock worth $551,000 after purchasing an additional 189 shares in the last quarter. Finally, Guinness Asset Management LTD boosted its position in Fortive by 2.5% during the third quarter. Guinness Asset Management LTD now owns 7,865 shares of the technology company’s stock worth $583,000 after purchasing an additional 193 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock valued at $5,475,122 in the last quarter. Insiders own 0.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FTV shares. Truist Financial started coverage on Fortive in a research report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price on the stock. Mizuho upped their price objective on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $90.00 in a research report on Wednesday, April 17th. Royal Bank of Canada reduced their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.46.

Fortive Price Performance

FTV stock opened at $76.98 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. Fortive Co. has a 1 year low of $63.05 and a 1 year high of $87.10. The firm has a market cap of $27.10 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The stock has a 50-day simple moving average of $82.76 and a 200-day simple moving average of $76.22.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) 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 business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. On average, equities analysts predict that Fortive Co. will post 3.81 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio is presently 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.