Fortive Co. (NYSE:FTV) Shares Sold by Pointe Capital Management LLC

Pointe Capital Management LLC cut its stake in Fortive Co. (NYSE:FTV) by 33.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,322 shares of the technology company’s stock after selling 1,667 shares during the quarter. Pointe Capital Management LLC’s holdings in Fortive were worth $245,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FTV. Commonwealth Equity Services LLC lifted its holdings in Fortive by 2.9% in the third quarter. Commonwealth Equity Services LLC now owns 23,393 shares of the technology company’s stock valued at $1,735,000 after acquiring an additional 662 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Fortive by 60.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,866 shares of the technology company’s stock worth $657,000 after buying an additional 3,347 shares in the last quarter. Xponance Inc. increased its stake in shares of Fortive by 1.0% during the third quarter. Xponance Inc. now owns 44,670 shares of the technology company’s stock worth $3,313,000 after buying an additional 431 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Fortive by 7.7% in the third quarter. Stratos Wealth Partners LTD. now owns 4,603 shares of the technology company’s stock valued at $341,000 after acquiring an additional 329 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in Fortive by 2.8% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 172,486 shares of the technology company’s stock worth $12,792,000 after acquiring an additional 4,700 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of NYSE FTV traded down $0.02 during trading hours on Friday, reaching $76.08. The stock had a trading volume of 2,306,506 shares, compared to its average volume of 1,905,884. Fortive Co. has a twelve month low of $63.05 and a twelve month high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.17. The business’s fifty day moving average is $83.14 and its two-hundred day moving average is $76.14. The company has a market cap of $26.78 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.22 and a beta of 1.15.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The company had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. As a group, research analysts expect that Fortive Co. will post 3.81 EPS for the current year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s payout ratio is 12.65%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FTV shares. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $95.00 to $90.00 in a report on Wednesday, April 17th. Citigroup dropped their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Barclays boosted their price objective on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho increased their target price on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.46.

Insider Activity

In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tamara S. Newcombe sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares of the company’s stock, valued at approximately $4,676,445. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,937 shares of company stock worth $5,475,122. Company insiders own 0.95% of the company’s stock.

Fortive 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.