Ellevest Inc. Sells 1,386 Shares of Fortive Corporation $FTV

Ellevest Inc. reduced its position in Fortive Corporation (NYSE:FTV) by 16.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,252 shares of the technology company’s stock after selling 1,386 shares during the period. Ellevest Inc.’s holdings in Fortive were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accent Capital Management LLC bought a new stake in Fortive in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. boosted its position in shares of Fortive by 246.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the last quarter. Capital Analysts LLC grew its holdings in shares of Fortive by 41.0% in the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock valued at $38,000 after purchasing an additional 152 shares in the last quarter. Banque Transatlantique SA increased its position in Fortive by 92.8% in the first quarter. Banque Transatlantique SA now owns 561 shares of the technology company’s stock worth $38,000 after purchasing an additional 270 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Fortive by 459.7% during the first quarter. Larson Financial Group LLC now owns 806 shares of the technology company’s stock valued at $59,000 after purchasing an additional 662 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of recent research reports. Cowen cut shares of Fortive from a “buy” rating to a “hold” rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Fortive to a “hold” rating in a report on Friday, September 5th. Royal Bank Of Canada reduced their price objective on Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 31st. Melius Research raised Fortive to a “hold” rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on Fortive from $50.00 to $53.00 and gave the stock an “equal weight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Hold” and a consensus target price of $59.29.

Insider Activity at Fortive

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

Fortive Stock Performance

Shares of Fortive stock opened at $51.09 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $48.99 and its two-hundred day moving average is $56.67. Fortive Corporation has a 52 week low of $46.34 and a 52 week high of $83.32. The company has a market capitalization of $16.23 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 3.03 and a beta of 1.16.

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

Fortive Announces Dividend

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

Fortive 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.