EverSource Wealth Advisors LLC Sells 547 Shares of Fortive Co. (NYSE:FTV)

EverSource Wealth Advisors LLC decreased its holdings in Fortive Co. (NYSE:FTV) by 46.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 620 shares of the technology company’s stock after selling 547 shares during the period. EverSource Wealth Advisors LLC’s holdings in Fortive were worth $46,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of Fortive in the 4th quarter worth $31,000. Versant Capital Management Inc increased its holdings in shares of Fortive by 186.8% in 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 in the last quarter. Crews Bank & Trust bought a new stake in shares of Fortive in the 4th quarter worth $37,000. Albion Financial Group UT bought a new stake in shares of Fortive in the 4th quarter worth $38,000. Finally, Dakota Community Bank & Trust NA increased its holdings in shares of Fortive by 28.6% in the 4th quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company’s stock worth $59,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the sale, the chief executive officer now directly owns 528,851 shares of the company’s stock, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at $1,941,425.85. This trade represents a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 over the last ninety days. Corporate insiders own 1.01% of the company’s stock.

Fortive Price Performance

Shares of Fortive stock opened at $75.24 on Thursday. The stock’s 50-day simple moving average is $78.70 and its 200-day simple moving average is $76.85. Fortive Co. has a 52 week low of $66.15 and a 52 week high of $87.10. The company has a market capitalization of $25.60 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period in the prior year, the business earned $0.98 EPS. As a group, analysts expect that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s payout ratio is 13.56%.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on Fortive from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Truist Financial lifted their price objective on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Royal Bank of Canada lifted their price objective on Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com lowered Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and an average price target of $87.64.

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.