Fortive Co. (NYSE:FTV) Shares Sold by First Western Trust Bank

First Western Trust Bank cut its stake in Fortive Co. (NYSE:FTV) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,410 shares of the technology company’s stock after selling 7,150 shares during the period. First Western Trust Bank’s holdings in Fortive were worth $3,584,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FTV. Capital Performance Advisors LLP purchased a new stake in shares of Fortive in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive during the second quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive in the 2nd quarter valued at $31,000. Finally, Advisors Asset Management Inc. purchased a new stake in Fortive in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FTV shares. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research report on Thursday, September 5th. Wells Fargo & Company lowered their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Truist Financial reduced their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Royal Bank of Canada cut their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock worth $14,261,051 over the last ninety days. 1.01% of the stock is currently owned by insiders.

Fortive Stock Performance

Shares of FTV stock opened at $74.82 on Monday. The stock has a fifty day moving average price of $75.53 and a 200 day moving average price of $74.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a market cap of $25.96 billion, a PE ratio of 29.81, a P/E/G ratio of 2.05 and a beta of 1.13. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10.

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

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio is presently 12.75%.

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.