Canoe Financial LP Reduces Position in Fortive Co. (NYSE:FTV)

Canoe Financial LP decreased its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,638 shares of the technology company's stock after selling 5,421 shares during the quarter. Canoe Financial LP owned approximately 0.08% of Fortive worth $21,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Fortive during the third quarter valued at $25,000. Goodman Advisory Group LLC bought a new position in Fortive during the 2nd quarter worth $31,000. Pinnacle Bancorp Inc. lifted its holdings in Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock worth $33,000 after buying an additional 176 shares during the period. Versant Capital Management Inc grew its position in shares of Fortive by 186.8% in the 4th quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock valued at $34,000 after buying an additional 297 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Fortive in the third quarter valued at about $41,000. Institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction 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. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Fortive from $77.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday. Royal Bank of Canada decreased their price objective on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating for the company in a research report on Thursday, October 31st. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 target price on the stock. Finally, Argus reaffirmed a "hold" rating on shares of Fortive in a research note on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Fortive currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.45.

Fortive Stock Up 0.4 %

NYSE FTV traded up $0.30 during mid-day trading on Friday, hitting $79.00. The company's stock had a trading volume of 2,659,762 shares, compared to its average volume of 2,226,464. The firm has a market capitalization of $27.41 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.92 and a beta of 1.14. The company's 50 day simple moving average is $76.68 and its 200 day simple moving average is $74.82. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same period last year, the company earned $0.85 earnings per share. The business's revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Fortive Co. will post 3.84 earnings per share for the current year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 29th. 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.