NBT Bank N A NY Sells 835 Shares of Fortive Co. (NYSE:FTV)

NBT Bank N A NY reduced its stake in shares of Fortive Co. (NYSE:FTV) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,004 shares of the technology company’s stock after selling 835 shares during the quarter. NBT Bank N A NY’s holdings in Fortive were worth $1,350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FTV. Capital Performance Advisors LLP bought a new stake in shares of Fortive during the 3rd quarter worth $25,000. Whipplewood Advisors LLC bought a new stake in Fortive in the fourth quarter worth $31,000. Versant Capital Management Inc lifted its stake in Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock worth $34,000 after purchasing an additional 297 shares during the last quarter. Crews Bank & Trust bought a new stake in Fortive in the fourth quarter worth $37,000. Finally, Albion Financial Group UT bought a new stake in Fortive in the fourth quarter worth $38,000. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fortive news, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the sale, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stacey A. Walker sold 3,002 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now owns 42,373 shares in the company, valued at approximately $3,349,585.65. This trade represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,385 shares of company stock worth $19,508,529. 1.01% of the stock is currently owned by company insiders.

Fortive Price Performance

Shares of NYSE FTV opened at $74.91 on Tuesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The company’s 50-day moving average is $78.94 and its 200 day moving average is $76.85. The stock has a market capitalization of $25.49 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $0.98 EPS. On average, sell-side analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 13.56%.

Wall Street Analyst Weigh In

FTV has been the subject of several recent research reports. Barclays lowered their price target on shares of Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wells Fargo & Company upped their price objective on shares of Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.