Fortive Co. (NYSE:FTV) Position Trimmed by Signaturefd LLC

Signaturefd LLC lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,924 shares of the technology company’s stock after selling 147 shares during the quarter. Signaturefd LLC’s holdings in Fortive were worth $310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in Fortive by 70.1% during the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Fortive by 104.3% during the 1st quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after acquiring an additional 188,415 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Fortive by 4.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock valued at $389,000 after buying an additional 226 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock valued at $31,216,000 after buying an additional 51,690 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Fortive by 599.3% during the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after buying an additional 45,032 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FTV has been the subject of several research reports. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Morgan Stanley initiated coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Finally, Truist Financial lifted their price target on Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.10.

Fortive Stock Performance

FTV opened at $74.97 on Friday. The stock has a market cap of $26.26 billion, a PE ratio of 30.11, a P/E/G ratio of 2.21 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive Co. has a 1 year low of $63.50 and a 1 year high of $87.10. The stock’s 50 day simple moving average is $75.16 and its 200-day simple moving average is $74.83.

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

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.85%.

Fortive Company 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.