Fortive Co. (NYSE:FTV) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its stake in Fortive Co. (NYSE:FTV) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,369 shares of the technology company’s stock after selling 628 shares during the period. Hartford Investment Management Co.’s holdings in Fortive were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FTV. Capital Performance Advisors LLP acquired a new stake in Fortive in the third quarter worth approximately $25,000. Versant Capital Management Inc increased its position in shares of Fortive by 186.8% during the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust bought a new stake in shares of Fortive in the 4th quarter worth $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive in the fourth quarter valued at $38,000. Finally, Exchange Traded Concepts LLC bought a new position in Fortive during the third quarter valued at about $41,000. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FTV has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Truist Financial increased their target price on shares of Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. StockNews.com lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Monday. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Argus restated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

Fortive Stock Up 1.9 %

Shares of Fortive stock opened at $81.68 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. The stock has a 50-day moving average price of $77.74 and a 200 day moving average price of $75.57. The company has a market cap of $28.34 billion, a P/E ratio of 32.54, a P/E/G ratio of 2.14 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same quarter in the previous year, the company earned $0.98 earnings per share. As a group, analysts expect that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

About Fortive

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.