Atom Investors LP lessened its stake in Fortive Co. (NYSE:FTV - Free Report) by 18.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,758 shares of the technology company's stock after selling 26,986 shares during the period. Fortive accounts for about 1.0% of Atom Investors LP's portfolio, making the stock its 9th largest position. Atom Investors LP's holdings in Fortive were worth $9,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in FTV. Mizuho Securities USA LLC grew its position in shares of Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock worth $315,720,000 after buying an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Fortive by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company's stock worth $271,851,000 after acquiring an additional 103,530 shares during the period. Dimensional Fund Advisors LP grew its holdings in Fortive by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company's stock worth $197,726,000 after acquiring an additional 205,893 shares in the last quarter. Select Equity Group L.P. increased its position in 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 purchasing an additional 168,368 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Fortive by 3.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company's stock valued at $190,099,000 after purchasing an additional 94,170 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on FTV shares. Argus reiterated a "hold" rating on shares of Fortive in a research note on Monday, November 18th. Raymond James raised Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Mizuho raised Fortive from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Truist Financial dropped their price objective on Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, Wolfe Research downgraded shares of Fortive from an "outperform" rating to a "peer perform" rating in a report on Friday, September 6th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.82.
Check Out Our Latest Research Report on Fortive
Insider Activity
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 value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company's stock, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 8.55 % 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. 1.01% of the stock is currently owned by company insiders.
Fortive Stock Performance
FTV stock traded down $0.37 during midday trading on Monday, reaching $78.96. The stock had a trading volume of 1,946,441 shares, compared to its average volume of 2,000,633. The firm has a fifty day simple moving average of $76.23 and a two-hundred day simple moving average of $74.22. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. 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 stock has a market cap of $27.40 billion, a PE ratio of 31.61, a P/E/G ratio of 2.18 and a beta of 1.13.
Fortive (NYSE:FTV - Get Free Report) last posted its quarterly 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 net margin of 14.35% and a return on equity of 12.56%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the firm posted $0.85 EPS. Fortive's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.
Fortive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 dividend yield of 0.41%. Fortive's dividend payout ratio (DPR) is presently 12.75%.
About Fortive
(
Free Report)
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.
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