Entropy Technologies LP Sells 19,996 Shares of Fortive Co. (NYSE:FTV)

Entropy Technologies LP reduced its position in Fortive Co. (NYSE:FTV) by 30.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,510 shares of the technology company’s stock after selling 19,996 shares during the quarter. Entropy Technologies LP’s holdings in Fortive were worth $3,413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Fortive in the third quarter worth $25,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after acquiring an additional 176 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 297 shares during the period. Crews Bank & Trust bought a new position in shares of Fortive during the fourth quarter valued at $37,000. Finally, Albion Financial Group UT bought a new position in shares of Fortive during the fourth quarter valued at $38,000. 94.94% of the stock is owned by institutional investors.

Fortive Price Performance

Shares of FTV stock opened at $79.12 on Friday. The firm has a market cap of $27.45 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 2.14 and a beta of 1.15. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The stock has a 50-day moving average price of $77.65 and a 200 day moving average price of $75.37. 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 released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping 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 quarter last year, the business posted $0.98 EPS. Research analysts expect that Fortive Co. will post 3.84 EPS for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s payout ratio is 12.75%.

Wall Street Analysts Forecast Growth

FTV has been the subject of a number of analyst reports. 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. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and cut their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. 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. Truist Financial raised their target price on Fortive from $89.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.45.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.