Keybank National Association OH Decreases Stock Holdings in Fortive Co. (NYSE:FTV)

Keybank National Association OH decreased its position in Fortive Co. (NYSE:FTV) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,988 shares of the technology company’s stock after selling 2,510 shares during the quarter. Keybank National Association OH’s holdings in Fortive were worth $4,724,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Fortive by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,014,318 shares of the technology company’s stock valued at $151,074,000 after acquiring an additional 49,529 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Fortive by 11.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,836 shares of the technology company’s stock valued at $213,000 after acquiring an additional 282 shares during the period. Quintet Private Bank Europe S.A. increased its position in shares of Fortive by 4.6% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 317,369 shares of the technology company’s stock valued at $23,803,000 after acquiring an additional 13,901 shares during the period. Jones Financial Companies Lllp increased its position in shares of Fortive by 23.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,869 shares of the technology company’s stock valued at $440,000 after acquiring an additional 1,104 shares during the period. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in shares of Fortive during the fourth quarter valued at about $358,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stacey A. Walker sold 5,688 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. The trade was a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,385 shares of company stock worth $19,508,529 over the last 90 days. 1.01% of the stock is currently owned by insiders.

Fortive Price Performance

Shares of FTV opened at $78.28 on Thursday. The stock has a market cap of $26.64 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.68 and a beta of 1.15. 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 fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm’s 50-day simple moving average is $78.90 and its two-hundred day simple moving average is $76.71.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm earned $0.98 EPS. Analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s payout ratio is 13.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FTV. Barclays reduced their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their price target on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and an average target price of $87.64.

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.