Fortive Co. (NYSE:FTV) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its stake in shares of Fortive Co. (NYSE:FTV) by 26.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,161 shares of the technology company’s stock after selling 1,865 shares during the quarter. Bessemer Group Inc.’s holdings in Fortive were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC acquired a new position in shares of Fortive during the fourth quarter valued at $31,000. Versant Capital Management Inc boosted 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 bought a new position in Fortive in the 4th quarter worth about $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive in the fourth quarter valued at approximately $38,000. Finally, Dakota Community Bank & Trust NA raised its holdings in shares of Fortive by 28.6% during the fourth 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 during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on FTV shares. Wells Fargo & Company raised their target price on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Barclays cut their price objective on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Citigroup reduced their price target on shares of Fortive from $84.00 to $69.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Truist Financial lowered their price objective on shares of Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Fortive presently has an average rating of “Hold” and an average price target of $81.92.

Fortive Price Performance

Shares of FTV opened at $65.75 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $83.32. The firm’s 50 day moving average price is $74.64 and its 200 day moving average price is $76.11. The firm has a market cap of $22.37 billion, a PE ratio of 27.86, a PEG ratio of 2.68 and a beta of 1.12.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the company posted $0.98 EPS. As a group, research analysts expect that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. Fortive’s dividend payout ratio is presently 13.56%.

Insiders Place Their Bets

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the company’s stock in a transaction on 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 owns 24,283 shares in the company, valued at $1,941,425.85. This represents a 21.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey A. Walker sold 3,002 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now directly owns 42,373 shares in the company, valued at $3,349,585.65. This represents a 6.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently 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.