Bath Savings Trust Co Sells 1,698 Shares of Fortive Co. (NYSE:FTV)

Bath Savings Trust Co lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 6.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,816 shares of the technology company’s stock after selling 1,698 shares during the period. Bath Savings Trust Co’s holdings in Fortive were worth $1,786,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in Fortive by 15.0% in the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after purchasing an additional 51,690 shares during the period. Atomi Financial Group Inc. grew its position in Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after buying an additional 226 shares in the last quarter. Principal Financial Group Inc. increased its stake in Fortive by 2.7% during the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company’s stock valued at $32,052,000 after acquiring an additional 10,795 shares during the period. XTX Topco Ltd acquired a new position in Fortive in the 3rd quarter valued at approximately $1,346,000. Finally, ProShare Advisors LLC lifted its position in shares of Fortive by 18.3% in the 2nd quarter. ProShare Advisors LLC now owns 52,797 shares of the technology company’s stock worth $3,912,000 after acquiring an additional 8,149 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FTV. Truist Financial upped their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. UBS Group assumed coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on shares of Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.09.

Fortive Trading Up 0.3 %

Fortive stock traded up $0.20 during mid-day trading on Tuesday, hitting $76.72. The stock had a trading volume of 645,953 shares, compared to its average volume of 1,754,125. The stock has a 50-day simple moving average of $75.90 and a two-hundred day simple moving average of $74.58. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $26.62 billion, a PE ratio of 30.57, a P/E/G ratio of 2.11 and a beta of 1.14. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, sell-side analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, November 29th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

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.