Cornercap Investment Counsel Inc. Has $1.67 Million Stake in Fortive Co. (NYSE:FTV)

Cornercap Investment Counsel Inc. lessened its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,183 shares of the technology company's stock after selling 7,912 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Fortive were worth $1,672,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Private Advisor Group LLC lifted its position in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock worth $308,000 after buying an additional 135 shares during the period. RDA Financial Network lifted its holdings in shares of Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company's stock worth $311,000 after acquiring an additional 138 shares during the period. Pitcairn Co. boosted its position in shares of Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company's stock worth $961,000 after acquiring an additional 139 shares during the last quarter. QRG Capital Management Inc. increased its position in Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company's stock worth $1,371,000 after purchasing an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC raised its stake in Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company's stock worth $328,000 after purchasing an additional 147 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Fortive

In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction 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 of the company's stock, valued at approximately $5,030,281.80. This trade represents a 17.26 % 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 worth $14,261,051 in the last 90 days. 1.01% of the stock is owned by insiders.

Fortive Trading Down 1.0 %

Shares of NYSE:FTV traded down $0.79 during mid-day trading on Friday, hitting $74.82. The stock had a trading volume of 3,440,691 shares, compared to its average volume of 1,976,018. The company's 50 day moving average is $75.45 and its 200-day moving average is $74.19. The company has a market cap of $25.96 billion, a PE ratio of 30.07, a P/E/G ratio of 2.09 and a beta of 1.13. Fortive Co. has a 12-month low of $66.15 and a 12-month 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.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating 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 analyst estimates of $1.55 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict 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 given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive's dividend payout ratio is 12.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Barclays reduced their price target on 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 Fortive from an "outperform" rating to a "peer perform" rating in a report on Friday, September 6th. Truist Financial lowered their target price 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, UBS Group started coverage on shares of Fortive in a research note on Wednesday. They set a "neutral" rating and a $84.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $87.82.

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.