Fortive Co. (NYSE:FTV) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its stake in Fortive Co. (NYSE:FTV) by 7.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 132,090 shares of the technology company’s stock after selling 11,040 shares during the period. Cullen Frost Bankers Inc.’s holdings in Fortive were worth $9,726,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Fortive in the third quarter valued at approximately $25,000. Cornerstone Planning Group LLC acquired a new stake in shares of Fortive in the third quarter valued at $28,000. Cetera Trust Company N.A acquired a new position in Fortive during the 4th quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in Fortive during the 3rd quarter valued at about $30,000. Finally, Spire Wealth Management grew its position in Fortive by 69.3% in the 4th quarter. Spire Wealth Management now owns 508 shares of the technology company’s stock valued at $37,000 after acquiring an additional 208 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the completion of the sale, the chief financial officer now owns 61,855 shares in the company, valued at approximately $5,336,849.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 9,106 shares of Fortive stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the sale, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock worth $5,475,122. 0.95% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on FTV shares. Barclays raised their price objective on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company cut their price objective on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Citigroup decreased their target price on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada cut their price target on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Fortive has an average rating of “Hold” and an average price target of $86.46.

Fortive Stock Performance

NYSE FTV traded down $0.51 during trading hours on Wednesday, hitting $76.53. The company had a trading volume of 1,387,019 shares, compared to its average volume of 1,711,380. The business has a 50 day moving average of $82.58 and a 200-day moving average of $76.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.50. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The company has a market cap of $26.94 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. As a group, equities research analysts expect that Fortive Co. will post 3.81 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, May 31st. Fortive’s payout ratio is currently 12.65%.

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.