Allspring Global Investments Holdings LLC Sells 629,979 Shares of Fortive Co. (NYSE:FTV)

Allspring Global Investments Holdings LLC lowered its stake in shares of Fortive Co. (NYSE:FTV) by 96.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,957 shares of the technology company’s stock after selling 629,979 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Fortive were worth $1,891,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Boston Partners increased its stake in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. Janus Henderson Group PLC increased its position in Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after buying an additional 1,999,792 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares during the period. Select Equity Group L.P. lifted its position in shares of Fortive by 6.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock valued at $195,721,000 after buying an additional 168,368 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Fortive by 3.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after acquiring an additional 94,170 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of research reports. Barclays boosted their price objective on Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley initiated coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Monday, July 8th. Royal Bank of Canada restated a “sector perform” rating and set a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Finally, 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 research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.10.

Insider Buying and Selling

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction that occurred 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 in the company, valued at $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 available through this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s 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 sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Fortive Price Performance

Fortive stock opened at $72.08 on Thursday. The stock has a market cap of $25.37 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 2.21 and a beta of 1.12. 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 business has a 50-day simple moving average of $75.33 and a 200 day simple moving average of $74.57. Fortive Co. has a 52 week low of $64.44 and a 52 week high of $87.10.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Friday, September 13th. 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.