Fortive Co. (NYSE:FTV) Position Reduced by Private Trust Co. NA

Private Trust Co. NA reduced its position in Fortive Co. (NYSE:FTV) by 12.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,242 shares of the technology company’s stock after selling 444 shares during the period. Private Trust Co. NA’s holdings in Fortive were worth $256,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FTV. Mizuho Securities USA LLC lifted 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 acquiring an additional 3,972,855 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Fortive by 78.0% in the second quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock worth $63,221,000 after purchasing an additional 373,957 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Fortive by 1,053.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after purchasing an additional 349,530 shares during the period. Clarkston Capital Partners LLC purchased a new position in Fortive during the third quarter valued at approximately $25,930,000. Finally, Panagora Asset Management Inc. increased its stake in Fortive by 27.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock valued at $94,041,000 after buying an additional 273,168 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FTV. Royal Bank of Canada decreased their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Wells Fargo & Company cut their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Argus reissued a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, Truist Financial dropped their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Insiders Place Their Bets

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 17.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,895 shares of company stock valued at $14,261,051 in the last three months. Company insiders own 1.01% of the company’s stock.

Fortive Trading Up 0.6 %

NYSE:FTV opened at $79.40 on Friday. The company’s 50 day moving average is $76.17 and its 200-day moving average is $74.25. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The firm has a market cap of $27.55 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.19 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

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