Fortive Co. (NYSE:FTV) Shares Sold by Walleye Capital LLC

Walleye Capital LLC reduced its stake in Fortive Co. (NYSE:FTV - Free Report) by 70.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,292 shares of the technology company's stock after selling 20,035 shares during the period. Walleye Capital LLC's holdings in Fortive were worth $654,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC boosted its position in shares of 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 valued at $315,720,000 after purchasing an additional 3,972,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 valued at $271,851,000 after acquiring an additional 103,530 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Fortive by 8.4% during the second 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 during the last quarter. Select Equity Group L.P. increased its holdings in shares of Fortive by 6.8% in 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 acquiring an additional 168,368 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in 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 during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Price Performance

Shares of NYSE FTV traded down $0.25 during trading on Friday, hitting $78.89. 2,957,986 shares of the company were exchanged, compared to its average volume of 2,614,847. The firm's fifty day moving average price is $76.37 and its 200 day moving average price is $74.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The company has a market cap of $27.37 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.16 and a beta of 1.14. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 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 firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts expect that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.41%. Fortive's dividend payout ratio is presently 12.75%.

Insiders Place Their Bets

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive 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 position. The sale 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 on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 31st. Wolfe Research downgraded Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Barclays decreased their price objective on Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Fortive from a "hold" rating to a "buy" rating in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Fortive currently has an average rating of "Moderate Buy" and a consensus target price of $87.82.

Fortive 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.