Fortive Co. (NYSE:FTV) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its holdings in shares of Fortive Co. (NYSE:FTV) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 190,927 shares of the technology company’s stock after selling 5,776 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Fortive were worth $14,320,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Fortive during the third quarter worth $25,000. Versant Capital Management Inc increased its holdings in Fortive by 186.8% in the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after buying an additional 297 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Fortive during the 4th quarter worth approximately $37,000. Albion Financial Group UT acquired a new stake in shares of Fortive in the 4th quarter worth approximately $38,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Fortive in the third quarter valued at $41,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Down 1.3 %

Shares of NYSE:FTV opened at $80.59 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a market cap of $27.96 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.14 and a beta of 1.15. The stock’s 50-day moving average price is $77.83 and its two-hundred day moving average price is $75.71. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the business earned $0.98 earnings per share. On average, research analysts forecast that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is currently 12.75%.

Analyst Upgrades and Downgrades

FTV has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. UBS Group initiated coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. 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. Finally, StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.64.

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.