Fortive Co. (NYSE:FTV) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its position in Fortive Co. (NYSE:FTV) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 785,904 shares of the technology company’s stock after selling 764 shares during the period. Ensign Peak Advisors Inc owned about 0.22% of Fortive worth $58,235,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Lipe & Dalton raised its holdings in Fortive by 1.9% in the 1st quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after purchasing an additional 130 shares during the period. RDA Financial Network boosted its position in Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after purchasing an additional 138 shares in the last quarter. Pitcairn Co. boosted its position in Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after purchasing an additional 139 shares in the last quarter. QRG Capital Management Inc. boosted its position in Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 146 shares in the last quarter. Finally, Andina Capital Management LLC boosted its position in Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FTV shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price target on shares of Fortive in a research report on Friday, September 6th. Truist Financial lowered their price target on Fortive from $89.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price target on Fortive from $84.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a report on Thursday, September 5th. Finally, Morgan Stanley assumed coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price for the company. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.23.

Fortive Price Performance

NYSE:FTV opened at $76.34 on Friday. Fortive Co. has a one year low of $63.05 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market cap of $26.87 billion, a PE ratio of 30.17, a P/E/G ratio of 2.11 and a beta of 1.11. The stock has a 50 day moving average price of $72.43 and a 200 day moving average price of $76.18.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts expect that Fortive Co. will post 3.82 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s payout ratio is 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.