Sei Investments Co. Sells 210,436 Shares of Fortive Co. (NYSE:FTV)

Sei Investments Co. lowered its stake in Fortive Co. (NYSE:FTV) by 28.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 524,832 shares of the technology company’s stock after selling 210,436 shares during the quarter. Sei Investments Co.’s holdings in Fortive were worth $39,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in Fortive during the fourth quarter valued at about $31,000. Versant Capital Management Inc raised its stake in Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust purchased a new position in Fortive in the 4th quarter worth approximately $37,000. Albion Financial Group UT bought a new position in Fortive in the 4th quarter worth approximately $38,000. Finally, Dakota Community Bank & Trust NA grew its holdings in Fortive by 28.6% during the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock valued at $59,000 after buying an additional 175 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Truist Financial raised their price objective on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays cut their price target on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.64.

Fortive Stock Up 1.5 %

NYSE FTV opened at $75.92 on Tuesday. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $86.21. The firm has a market capitalization of $25.83 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company has a fifty day moving average of $78.64 and a two-hundred day moving average of $76.92.

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 quarter in the prior year, the business posted $0.98 EPS. On average, analysts predict that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th 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 of this dividend is Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

Insider Buying and Selling at Fortive

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

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.