Bokf Na Sells 601 Shares of Fortive Co. (NYSE:FTV)

Bokf Na lessened its stake in shares of Fortive Co. (NYSE:FTV) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,527 shares of the technology company’s stock after selling 601 shares during the quarter. Bokf Na’s holdings in Fortive were worth $491,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in Fortive by 5.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company’s stock worth $192,000 after acquiring an additional 127 shares in the last quarter. Wedmont Private Capital raised its position in shares of Fortive by 4.3% during the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after purchasing an additional 137 shares during the period. Dynasty Wealth Management LLC lifted its holdings in shares of Fortive by 1.0% in the 4th quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 142 shares in the last quarter. Manchester Capital Management LLC increased its stake in Fortive by 13.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock valued at $105,000 after purchasing an additional 165 shares in the last quarter. Finally, Webster Bank N. A. raised its holdings in Fortive by 6.6% during the fourth quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock worth $202,000 after buying an additional 168 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FTV has been the subject of several recent research reports. Royal Bank of Canada boosted their target price on shares of Fortive from $68.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Robert W. Baird cut their target price on Fortive from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on Fortive from $90.00 to $73.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Barclays cut their price objective on shares of Fortive from $85.00 to $84.00 and set an “overweight” rating on the stock in a report on Tuesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average target price of $80.85.

Insider Buying and Selling at Fortive

In other news, CEO James A. Lico sold 196,117 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Stacey A. Walker sold 3,002 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 42,373 shares of the company’s stock, valued at $3,349,585.65. This trade represents a 6.62 % 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 90 days. 1.01% of the stock is currently owned by company insiders.

Fortive Stock Performance

Shares of FTV opened at $70.45 on Friday. Fortive Co. has a 1 year low of $60.39 and a 1 year high of $83.32. 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 stock’s fifty day moving average price is $70.07 and its two-hundred day moving average price is $74.91. The firm has a market cap of $23.94 billion, a PE ratio of 29.85, a PEG ratio of 2.68 and a beta of 1.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Fortive had a return on equity of 13.15% and a net margin of 13.36%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 EPS. On average, equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend 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 is 14.04%.

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.