Truist Financial Corp Trims Stock Position in Fortive Co. (NYSE:FTV)

Truist Financial Corp decreased its holdings in Fortive Co. (NYSE:FTV) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,970 shares of the technology company’s stock after selling 10,273 shares during the quarter. Truist Financial Corp’s holdings in Fortive were worth $9,673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Fortive by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company’s stock worth $644,346,000 after purchasing an additional 46,704 shares during the period. Janus Henderson Group PLC boosted its position in shares of Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after buying an additional 977,428 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after purchasing an additional 103,530 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Fortive by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,964,789 shares of the technology company’s stock worth $155,081,000 after acquiring an additional 24,539 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Fortive stock opened at $80.03 on Friday. The business’s 50-day simple moving average is $78.20 and its 200 day simple moving average is $76.07. The stock has a market cap of $27.77 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 2.71 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 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 issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.98 EPS. As a group, research analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, February 28th. Fortive’s dividend payout ratio is presently 13.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group initiated coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. Royal Bank of Canada lifted their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, February 10th. StockNews.com downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, Argus reissued a “hold” rating on shares of Fortive in a report on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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.