Tritonpoint Wealth LLC Decreases Stake in Fortive Co. (NYSE:FTV)

Tritonpoint Wealth LLC cut its stake in shares of Fortive Co. (NYSE:FTV) by 3.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,021 shares of the technology company’s stock after selling 205 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Fortive were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock valued at $644,346,000 after purchasing an additional 46,704 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after purchasing an additional 977,428 shares during the period. Mizuho Securities USA LLC boosted its position in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after buying an additional 3,972,855 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock worth $271,851,000 after buying an additional 103,530 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Fortive by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock worth $155,081,000 after buying an additional 24,539 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Trading Down 0.4 %

Shares of FTV stock opened at $81.28 on Monday. The stock has a 50 day simple moving average of $77.62 and a 200-day simple moving average of $75.26. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a market cap of $28.20 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive Dividend Announcement

The business also recently disclosed 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. This represents a $0.32 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. Fortive’s payout ratio is 12.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FTV shares. Citigroup downgraded shares of Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Wells Fargo & Company increased their price target on Fortive from $77.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Saturday, January 25th. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. reduced 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. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $86.45.

Insider Transactions at Fortive

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

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.