Wedge Capital Management L L P NC Sells 13,108 Shares of Fortive Co. (NYSE:FTV)

Wedge Capital Management L L P NC reduced its holdings in shares of Fortive Co. (NYSE:FTV) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,308 shares of the technology company’s stock after selling 13,108 shares during the period. Wedge Capital Management L L P NC’s holdings in Fortive were worth $14,048,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FTV. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 46,704 shares in the last quarter. Janus Henderson Group PLC raised its stake in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after acquiring an additional 977,428 shares during the period. Mizuho Securities USA LLC lifted its holdings in Fortive by 14,635.7% during 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 purchasing an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Fortive by 3.1% in the third 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 purchasing an additional 103,530 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Fortive Price Performance

Fortive stock opened at $79.00 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a market cap of $27.41 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.92 and a beta of 1.14. The firm’s fifty day moving average is $76.61 and its 200 day moving average is $74.76. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. Sell-side analysts forecast that Fortive Co. will post 3.84 EPS for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive’s dividend payout ratio is presently 12.75%.

Analysts Set New Price Targets

FTV has been the subject of several recent analyst reports. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Friday. Barclays dropped their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial upped their price target on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group initiated coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus price target of $86.45.

Insiders Place Their Bets

In related news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the sale, the senior vice president now 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 disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

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.