Fortive Co. (NYSE:FTV) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC decreased its holdings in Fortive Co. (NYSE:FTV) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,844 shares of the technology company’s stock after selling 205 shares during the period. Bleakley Financial Group LLC’s holdings in Fortive were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Indiana Trust & Investment Management CO acquired a new stake in shares of Fortive during the 1st quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Fortive during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the subject of several research reports. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $90.00 in a report on Friday, September 6th. Barclays lifted their target price on shares of Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 target price on shares of Fortive in a report on Friday, September 6th. Finally, TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and lifted their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $87.36.

Fortive Stock Performance

NYSE:FTV opened at $75.51 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $74.95 and a two-hundred day simple moving average of $74.89. The company has a market cap of $26.58 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. Fortive Co. has a 52 week low of $63.05 and a 52 week high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts anticipate that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s payout ratio is currently 12.65%.

Fortive Profile

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.