Fortive Co. (NYSE:FTV) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC trimmed its stake in Fortive Co. (NYSE:FTV) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,010 shares of the technology company’s stock after selling 137 shares during the quarter. Evermay Wealth Management LLC’s holdings in Fortive were worth $226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FTV. Capital Performance Advisors LLP acquired a new position in shares of Fortive in the third quarter valued at approximately $25,000. Pinnacle Bancorp Inc. raised its holdings in Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares during the last quarter. Versant Capital Management Inc lifted its stake 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 worth $34,000 after purchasing an additional 297 shares during the period. Crews Bank & Trust acquired a new stake in shares of Fortive during the fourth quarter worth $37,000. Finally, Albion Financial Group UT purchased a new stake in shares of Fortive in the fourth quarter valued at $38,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

Shares of FTV stock opened at $81.28 on Friday. The company’s fifty day moving average price is $77.62 and its two-hundred day moving average price is $75.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The firm has a market capitalization of $28.20 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.17 and a beta of 1.14. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

Fortive (NYSE:FTV) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Fortive’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Fortive Co. will post 3.84 earnings per share 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 given a dividend of $0.08 per share. 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 payout ratio is currently 12.75%.

Insider Buying and Selling

In other news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FTV. UBS Group initiated coverage on Fortive in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Barclays lowered their price objective 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. Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.45.

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.