Fortive Corporation $FTV Shares Sold by Amundi

Amundi trimmed its holdings in shares of Fortive Corporation (NYSE:FTV) by 1.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,710,861 shares of the technology company’s stock after selling 30,728 shares during the quarter. Amundi’s holdings in Fortive were worth $91,257,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in FTV. Redmond Asset Management LLC lifted its position in shares of Fortive by 1.0% during the 1st quarter. Redmond Asset Management LLC now owns 14,515 shares of the technology company’s stock valued at $1,062,000 after acquiring an additional 142 shares during the last quarter. Capital Analysts LLC raised its position in shares of Fortive by 41.0% during the first quarter. Capital Analysts LLC now owns 523 shares of the technology company’s stock worth $38,000 after purchasing an additional 152 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Fortive by 5.1% during the second quarter. Valeo Financial Advisors LLC now owns 4,078 shares of the technology company’s stock valued at $213,000 after purchasing an additional 199 shares during the last quarter. Mirador Capital Partners LP lifted its holdings in shares of Fortive by 2.0% during the second quarter. Mirador Capital Partners LP now owns 11,349 shares of the technology company’s stock valued at $592,000 after purchasing an additional 219 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Fortive by 4.3% in the 2nd quarter. Moody National Bank Trust Division now owns 5,749 shares of the technology company’s stock valued at $300,000 after purchasing an additional 235 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of analyst reports. Truist Financial reaffirmed a “hold” rating and set a $58.00 price objective (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Barclays upped their price target on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Fortive to a “hold” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Fortive in a report on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.54.

Fortive Stock Up 0.6%

Fortive stock opened at $54.07 on Tuesday. Fortive Corporation has a twelve month low of $46.34 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.70. The firm has a market cap of $17.17 billion, a PE ratio of 30.90, a P/E/G ratio of 3.24 and a beta of 1.13. The firm’s 50 day moving average price is $50.81 and its two-hundred day moving average price is $53.81.

Fortive (NYSE:FTV) last issued its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share (EPS) for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The company had revenue of $1.07 billion during the quarter. On average, research analysts predict that Fortive Corporation will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a $0.06 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s payout ratio is 13.71%.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the transaction, the senior vice president directly owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.92% of the stock is currently 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.