Fortive Corporation $FTV Shares Sold by First Western Trust Bank

First Western Trust Bank trimmed its holdings in Fortive Corporation (NYSE:FTV) by 8.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 35,414 shares of the technology company’s stock after selling 3,283 shares during the quarter. First Western Trust Bank’s holdings in Fortive were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in FTV. Private Advisor Group LLC bought a new position in shares of Fortive in the first quarter worth $876,000. Whittier Trust Co. raised its stake in shares of Fortive by 6.8% during the second quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock valued at $18,494,000 after purchasing an additional 22,443 shares in the last quarter. FORA Capital LLC acquired a new stake in Fortive in the first quarter worth about $1,434,000. JPMorgan Chase & Co. grew its position in Fortive by 49.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,530,596 shares of the technology company’s stock valued at $185,189,000 after buying an additional 835,277 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Fortive by 2,408.4% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 128,031 shares of the technology company’s stock valued at $9,409,000 after buying an additional 122,927 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president directly owned 59,488 shares in the company, valued at $2,995,220.80. This trade represents a 3.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is currently owned by insiders.

Fortive Price Performance

Shares of NYSE:FTV opened at $52.03 on Thursday. The company has a market capitalization of $16.52 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The stock has a fifty day moving average of $49.32 and a 200-day moving average of $56.16. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32.

Fortive (NYSE:FTV) last announced its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The company had revenue of $1.07 billion for the quarter. As a group, equities analysts anticipate that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Fortive’s dividend payout ratio is currently 13.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FTV. Royal Bank Of Canada reduced their price target on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a research note on Thursday, July 31st. Wall Street Zen raised Fortive to a “hold” rating in a report on Friday, September 5th. Melius Research raised Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Citigroup lifted their price target on Fortive from $56.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Melius lowered Fortive from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fortive currently has a consensus rating of “Hold” and an average target price of $57.38.

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.