Fortive Co. (NYSE:FTV) Stock Holdings Lessened by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in Fortive Co. (NYSE:FTV - Free Report) by 85.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,142,503 shares of the technology company's stock after selling 12,854,199 shares during the quarter. Wellington Management Group LLP owned about 0.62% of Fortive worth $169,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FTV. Cetera Advisors LLC grew its holdings in Fortive by 24.1% in the 1st quarter. Cetera Advisors LLC now owns 9,519 shares of the technology company's stock valued at $819,000 after buying an additional 1,848 shares during the period. CWM LLC grew its holdings in shares of Fortive by 10.2% during the 2nd quarter. CWM LLC now owns 9,523 shares of the technology company's stock worth $706,000 after purchasing an additional 879 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Fortive by 0.8% during the 2nd 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 period. Czech National Bank grew its holdings in shares of Fortive by 8.7% during the 2nd quarter. Czech National Bank now owns 67,082 shares of the technology company's stock worth $4,971,000 after purchasing an additional 5,376 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Fortive by 29.0% during the 2nd quarter. Diversified Trust Co now owns 29,578 shares of the technology company's stock worth $2,192,000 after purchasing an additional 6,658 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Stock Down 0.5 %

FTV stock traded down $0.41 during mid-day trading on Monday, hitting $78.48. 2,452,359 shares of the company were exchanged, compared to its average volume of 2,005,466. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The firm has a fifty day simple moving average of $76.36 and a 200 day simple moving average of $74.30. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $27.23 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14.

Fortive (NYSE:FTV - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business posted $0.85 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently declared 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. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive's dividend payout ratio (DPR) is presently 12.75%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FTV shares. UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price for the company. Morgan Stanley started coverage on Fortive in a report on Friday, September 6th. They set an "overweight" rating and a $89.00 target price for the company. Truist Financial decreased their price target on Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a report on Friday, November 1st. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a research report on Friday, September 13th. Finally, Royal Bank of Canada reduced their price target on Fortive from $85.00 to $77.00 and set a "sector perform" rating for the company in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Fortive has an average rating of "Moderate Buy" and a consensus target price of $86.73.

Insider Activity

In other news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company's stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,895 shares of company stock valued at $14,261,051. Company insiders own 1.01% of the company's stock.

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.