EverSource Wealth Advisors LLC Sells 547 Shares of Fortive Co. (NYSE:FTV)

EverSource Wealth Advisors LLC reduced its stake in shares of Fortive Co. (NYSE:FTV) by 46.9% during the 4th quarter, HoldingsChannel reports. The fund owned 620 shares of the technology company’s stock after selling 547 shares during the period. EverSource Wealth Advisors LLC’s holdings in Fortive were worth $46,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. First Hawaiian Bank increased its stake in Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company’s stock worth $1,145,000 after acquiring an additional 10,125 shares during 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 worth $32,052,000 after acquiring an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company’s stock worth $2,832,000 after acquiring an additional 7,829 shares during the last quarter. XTX Topco Ltd bought a new stake in Fortive during the third quarter worth approximately $1,346,000. Finally, Nordea Investment Management AB grew its stake in shares of Fortive by 23.9% during the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company’s stock valued at $118,292,000 after buying an additional 303,788 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the 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 sale, the senior vice president now owns 47,141 shares of the company’s stock, valued at approximately $3,795,793.32. This represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 over the last 90 days. Company insiders own 1.01% of the company’s stock.

Fortive Stock Up 1.2 %

Shares of NYSE FTV opened at $75.24 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16. The firm has a market capitalization of $25.60 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.68 and a beta of 1.16. The stock has a 50 day moving average price of $78.70 and a 200 day moving average price of $76.85. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.98 earnings per share. Sell-side analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Announces Dividend

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

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on Fortive from $77.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. cut their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. 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. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and cut their target price for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company upped their target price on Fortive from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fortive presently has a consensus rating of “Moderate Buy” and a consensus price target 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.