Fortive Co. (NYSE:FTV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Fortive Co. (NYSE:FTV) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 152,883 shares of the technology company’s stock after selling 3,822 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fortive were worth $11,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wedmont Private Capital lifted its stake in shares of Fortive by 4.3% in the 4th quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after acquiring an additional 137 shares during the period. Dynasty Wealth Management LLC raised its holdings in Fortive by 1.0% during the fourth 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. Patton Albertson Miller Group LLC lifted its position in Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after purchasing an additional 150 shares during the period. Atria Investments Inc boosted its holdings in Fortive by 1.6% in the 3rd quarter. Atria Investments Inc now owns 10,591 shares of the technology company’s stock valued at $836,000 after purchasing an additional 163 shares in the last quarter. Finally, Manchester Capital Management LLC increased its position in Fortive by 13.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock worth $105,000 after purchasing an additional 165 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

Shares of FTV opened at $74.22 on Wednesday. The company has a 50-day moving average of $78.93 and a two-hundred day moving average of $76.86. The stock has a market cap of $25.26 billion, a P/E ratio of 31.45, a PEG ratio of 2.68 and a beta of 1.16. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the prior year, the company posted $0.98 earnings per share. As a group, research analysts predict that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s payout ratio is currently 13.56%.

Insider Buying and Selling

In related news, CEO James A. Lico sold 196,117 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 owns 528,851 shares in the company, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the transaction, the senior vice president now owns 47,141 shares of the company’s stock, valued at $3,795,793.32. This trade represents a 10.77 % decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group began coverage on Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Royal Bank of Canada increased their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup cut shares of Fortive from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.64.

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.