ING Groep NV lessened its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 48.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 132,855 shares of the technology company's stock after selling 123,015 shares during the period. ING Groep NV's holdings in Fortive were worth $10,486,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. increased its stake in Fortive by 4.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,638 shares of the technology company's stock worth $761,000 after acquiring an additional 402 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Fortive by 2.8% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 990,048 shares of the technology company's stock worth $78,144,000 after purchasing an additional 26,600 shares during the period. Metis Global Partners LLC increased its position in shares of Fortive by 30.7% during the 3rd quarter. Metis Global Partners LLC now owns 35,943 shares of the technology company's stock worth $2,837,000 after purchasing an additional 8,453 shares during the last quarter. Curi RMB Capital LLC purchased a new stake in shares of Fortive in the 3rd quarter valued at approximately $216,000. Finally, KBC Group NV raised its position in Fortive by 3.3% in the third quarter. KBC Group NV now owns 203,043 shares of the technology company's stock valued at $16,027,000 after purchasing an additional 6,440 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.
Fortive Stock Performance
Shares of NYSE FTV traded down $0.79 during trading hours on Friday, reaching $74.82. The stock had a trading volume of 3,440,691 shares, compared to its average volume of 1,976,071. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.09 and a beta of 1.13. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The firm has a 50-day moving average of $75.45 and a 200-day moving average of $74.19. 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 (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that Fortive Co. will post 3.85 earnings per share for the current year.
Fortive Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive's payout ratio is currently 12.75%.
Insider Buying and Selling
In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the 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 transaction, the senior vice president now owns 42,651 shares of the company's stock, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive 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 completion of the sale, the senior vice president now directly owns 48,346 shares of the company's stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders 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
A number of analysts have issued reports on FTV shares. Mizuho upgraded shares of Fortive from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Wolfe Research lowered shares of Fortive from an "outperform" rating to a "peer perform" rating in a report on Friday, September 6th. Morgan Stanley started coverage on Fortive in a research report on Friday, September 6th. They set an "overweight" rating and a $89.00 price objective on the stock. Wells Fargo & Company lowered their target price on Fortive from $82.00 to $77.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Finally, Barclays decreased their price objective on Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Fortive presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.82.
Read Our Latest Analysis on FTV
Fortive Company Profile
(
Free Report)
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.
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