Fortive Co. (NYSE:FTV) Holdings Lowered by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd lowered its stake in Fortive Co. (NYSE:FTV) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,123 shares of the technology company’s stock after selling 2,051 shares during the quarter. Fortive makes up 2.1% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 17th largest holding. Brown Shipley& Co Ltd’s holdings in Fortive were worth $4,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mizuho Securities USA LLC boosted its stake in Fortive by 14,635.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after purchasing an additional 3,972,855 shares during the period. Boston Partners lifted its holdings in shares of Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after buying an additional 505,882 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Fortive by 1,053.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after buying an additional 349,530 shares during the period. Finally, Clarkston Capital Partners LLC purchased a new position in shares of Fortive during the third quarter valued at $25,930,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

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 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 directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 17.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock valued at $14,261,051 in the last quarter. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FTV shares. Truist Financial reduced their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Barclays decreased their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Fortive Stock Performance

FTV opened at $79.40 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market cap of $27.55 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13. The stock has a 50-day moving average of $76.13 and a 200-day moving average of $74.21. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

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.