Fortive Co. (NYSE:FTV) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its stake in Fortive Co. (NYSE:FTV) by 45.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,404 shares of the technology company’s stock after selling 11,111 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Fortive were worth $1,005,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FTV. Point72 Asset Management L.P. increased its position in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock worth $152,899,000 after purchasing an additional 1,761,983 shares during the last quarter. Janus Henderson Group PLC raised its stake in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after buying an additional 977,428 shares in the last quarter. Holocene Advisors LP lifted its holdings in Fortive by 1,014.1% during the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after buying an additional 841,671 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Fortive by 59.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after acquiring an additional 505,882 shares in the last quarter. Finally, Amundi increased its holdings in shares of Fortive by 22.4% in the 4th quarter. Amundi now owns 1,785,483 shares of the technology company’s stock valued at $137,036,000 after acquiring an additional 326,652 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In related news, CEO James A. Lico sold 196,117 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now directly owns 528,851 shares in the company, valued at $42,509,043.38. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 76,126 shares of the company’s stock, valued at $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 243,385 shares of company stock valued at $19,508,529. Corporate insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada raised their target price on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Barclays lowered their target price on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average target price of $87.64.

Fortive Price Performance

Shares of FTV opened at $74.84 on Friday. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.68 and a beta of 1.16. The stock’s fifty day moving average is $78.65 and its 200-day moving average is $76.86. Fortive Co. has a one year low of $66.15 and a one year high of $86.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.

Fortive (NYSE:FTV) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the business posted $0.98 EPS. Equities analysts anticipate that Fortive Co. will post 4.05 EPS for the current year.

Fortive Dividend Announcement

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

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.