Fortive Co. (NYSE:FTV) Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP trimmed its stake in Fortive Co. (NYSE:FTV) by 8.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 155,066 shares of the technology company’s stock after selling 14,934 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Fortive were worth $11,630,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FTV. Parvin Asset Management LLC acquired a new position in shares of Fortive in the 4th quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in shares of Fortive in the 4th quarter worth $31,000. Crews Bank & Trust acquired a new position in shares of Fortive in the 4th quarter worth $37,000. Albion Financial Group UT purchased a new position in shares of Fortive during the fourth quarter valued at $38,000. Finally, Quarry LP grew its holdings in shares of Fortive by 229.6% during the fourth quarter. Quarry LP now owns 501 shares of the technology company’s stock valued at $38,000 after buying an additional 349 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial lowered their price target on Fortive from $90.00 to $81.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lifted their price target on Fortive from $68.00 to $72.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Robert W. Baird lowered their price target on Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company lifted their price target on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.85.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 5,688 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This represents a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’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 owns 76,126 shares of the company’s stock, valued at approximately $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 owned by corporate insiders.

Fortive Stock Performance

Shares of NYSE FTV opened at $70.45 on Monday. The business’s 50-day moving average price is $70.07 and its two-hundred day moving average price is $74.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. Fortive Co. has a one year low of $60.39 and a one year high of $83.32. The company has a market capitalization of $23.94 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV) last issued its earnings results on Thursday, May 1st. The technology company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that Fortive Co. will post 4.05 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 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.45%. Fortive’s dividend payout ratio (DPR) is currently 14.04%.

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.