Fortive Co. (NYSE:FTV) Shares Sold by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC reduced its stake in shares of Fortive Co. (NYSE:FTV) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,284 shares of the technology company’s stock after selling 300 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Fortive were worth $471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FTV. HB Wealth Management LLC lifted its holdings in Fortive by 6.6% in the fourth quarter. HB Wealth Management LLC now owns 4,823 shares of the technology company’s stock valued at $362,000 after acquiring an additional 299 shares during the last quarter. Ameritas Advisory Services LLC lifted its holdings in Fortive by 2.2% in the fourth quarter. Ameritas Advisory Services LLC now owns 13,011 shares of the technology company’s stock valued at $976,000 after acquiring an additional 282 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Fortive by 11.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 37,731 shares of the technology company’s stock valued at $2,830,000 after acquiring an additional 3,839 shares during the last quarter. Sky Investment Group LLC lifted its holdings in Fortive by 0.7% in the fourth quarter. Sky Investment Group LLC now owns 41,558 shares of the technology company’s stock valued at $3,117,000 after acquiring an additional 304 shares during the last quarter. Finally, New Hampshire Trust lifted its holdings in Fortive by 2.7% in the fourth quarter. New Hampshire Trust now owns 14,181 shares of the technology company’s stock valued at $1,064,000 after acquiring an additional 372 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FTV shares. Wells Fargo & Company upped their price objective on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Barclays decreased their price objective on Fortive from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Truist Financial decreased their price objective on Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on Fortive from $73.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Finally, Robert W. Baird cut their target price on Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average price target of $81.92.

Fortive Stock Down 1.0%

Fortive stock opened at $71.88 on Wednesday. The firm has a market capitalization of $24.43 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32. The stock’s fifty day simple moving average is $69.74 and its 200-day simple moving average is $74.88.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. As a group, equities analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, May 30th. Fortive’s payout ratio is currently 14.04%.

Insider Activity

In other news, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $79.05, for a total value of $237,308.10. Following the sale, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. The trade was a 29.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 432,712 shares of company stock worth $33,237,008. Corporate insiders own 1.01% of the company’s stock.

Fortive 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.