Fortive Co. (NYSE:FTV) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its position in Fortive Co. (NYSE:FTV) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,369 shares of the technology company’s stock after selling 628 shares during the period. Hartford Investment Management Co.’s holdings in Fortive were worth $1,603,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Essex Financial Services Inc. boosted its holdings in Fortive by 18.3% in the fourth quarter. Essex Financial Services Inc. now owns 3,171 shares of the technology company’s stock valued at $238,000 after purchasing an additional 491 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Fortive by 11.2% during the 4th quarter. Summit Trail Advisors LLC now owns 10,143 shares of the technology company’s stock valued at $761,000 after buying an additional 1,023 shares during the last quarter. Visionary Horizons LLC grew its position in shares of Fortive by 26.4% during the fourth quarter. Visionary Horizons LLC now owns 4,366 shares of the technology company’s stock worth $327,000 after buying an additional 912 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Fortive by 14.4% in the fourth quarter. Empowered Funds LLC now owns 6,189 shares of the technology company’s stock worth $464,000 after buying an additional 779 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Fortive by 30.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 7,534 shares of the technology company’s stock worth $565,000 after buying an additional 1,762 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of NYSE FTV opened at $81.68 on Friday. 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 $28.34 billion, a PE ratio of 32.54, a P/E/G ratio of 2.14 and a beta of 1.15. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The business’s fifty day moving average price is $77.74 and its two-hundred day moving average price is $75.57.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 14.35% and a return on equity of 12.56%. During the same period in the prior year, the firm posted $0.98 EPS. On average, research analysts expect that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio (DPR) is 12.75%.

Analysts Set New Price Targets

FTV has been the subject of several recent analyst reports. Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. StockNews.com downgraded Fortive from a “buy” rating to a “hold” rating in a research note on Monday. Barclays cut their price objective on Fortive from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Truist Financial lifted their target price on Fortive from $89.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price target on Fortive from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.