Fortive Co. (NYSE:FTV) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 9.3% during the 4th quarter, HoldingsChannel reports. The firm owned 2,786 shares of the technology company’s stock after selling 286 shares during the period. Woodmont Investment Counsel LLC’s holdings in Fortive were worth $209,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Fortive during the fourth quarter worth about $11,900,000. Hillsdale Investment Management Inc. lifted its stake in Fortive by 4.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 9,380 shares of the technology company’s stock worth $704,000 after purchasing an additional 400 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Fortive by 44.7% during the 4th quarter. Mizuho Securities USA LLC now owns 32,883 shares of the technology company’s stock worth $2,466,000 after purchasing an additional 10,165 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Fortive by 6.1% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 147,381 shares of the technology company’s stock valued at $11,054,000 after purchasing an additional 8,456 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Fortive by 0.6% in the fourth quarter. Whittier Trust Co. now owns 330,269 shares of the technology company’s stock valued at $24,770,000 after purchasing an additional 1,888 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the transaction, the chief accounting officer now owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total value of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares in the company, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is currently owned by company insiders.

Fortive Stock Up 1.5 %

Shares of NYSE:FTV opened at $75.92 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market capitalization of $25.83 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The firm’s 50-day moving average is $78.64 and its two-hundred day moving average is $76.92. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $86.21.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm posted $0.98 earnings per share. Analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio is currently 13.56%.

Analyst Ratings Changes

FTV has been the subject of several analyst reports. Truist Financial upped their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays cut their price objective on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and decreased their target price for the company from $92.00 to $86.00 in a report on Monday, December 9th. Royal Bank of Canada raised their price target on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Finally, StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.64.

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.