Fortive Co. (NYSE:FTV) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in Fortive Co. (NYSE:FTV - Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,728 shares of the technology company's stock after selling 8,568 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Fortive were worth $4,635,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FTV. Capital Performance Advisors LLP acquired a new stake in Fortive in the 3rd quarter worth about $25,000. Ridgewood Investments LLC acquired a new stake in Fortive in the 2nd quarter worth about $30,000. International Assets Investment Management LLC acquired a new stake in Fortive in the 2nd quarter worth about $30,000. Goodman Advisory Group LLC acquired a new stake in Fortive in the 2nd quarter worth about $31,000. Finally, Pinnacle Bancorp Inc. lifted its stake in Fortive by 71.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock worth $33,000 after purchasing an additional 176 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Peter C. Underwood sold 5,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company's 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 completion of the transaction, the chief financial officer now owns 73,391 shares of the company's stock, valued at $5,433,135.73. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock worth $14,261,051 over the last 90 days. Corporate insiders own 1.01% of the company's stock.

Fortive Trading Down 0.5 %

NYSE FTV traded down $0.39 on Tuesday, reaching $78.57. The stock had a trading volume of 2,067,353 shares, compared to its average volume of 2,003,830. The firm has a market capitalization of $27.26 billion, a price-to-earnings ratio of 31.30, a P/E/G ratio of 2.17 and a beta of 1.14. 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 stock has a fifty day moving average price of $76.31 and a two-hundred day moving average price of $74.24.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results 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. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. As a group, sell-side analysts forecast that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid 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 12.75%.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of research reports. Wolfe Research lowered shares of Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Argus reissued a "hold" rating on shares of Fortive in a research note on Monday, November 18th. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a research note on Friday, September 13th. Mizuho raised shares of Fortive from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Barclays decreased their target price on shares of Fortive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.