Hartford Financial Management Inc. Sells 595 Shares of Fortive Co. (NYSE:FTV)

Hartford Financial Management Inc. decreased its holdings in shares of Fortive Co. (NYSE:FTV) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,093 shares of the technology company’s stock after selling 595 shares during the quarter. Hartford Financial Management Inc.’s holdings in Fortive were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Fortive during the third quarter worth $25,000. Pinnacle Bancorp Inc. increased its holdings in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares in the last quarter. Crews Bank & Trust acquired a new stake in Fortive in the 4th quarter worth approximately $37,000. Finally, Albion Financial Group UT bought a new stake in Fortive during the fourth quarter worth approximately $38,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.01% of the stock is owned by corporate insiders.

Fortive Stock Performance

Fortive stock opened at $81.65 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The stock has a fifty day moving average price of $77.46 and a two-hundred day moving average price of $75.20. The firm has a market capitalization of $28.33 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.17 and a beta of 1.14.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Wall Street Analysts Forecast Growth

FTV has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. JPMorgan Chase & Co. lowered their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, UBS Group started coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.45.

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.