M&T Bank Corp Has $2.80 Million Holdings in Fortive Co. (NYSE:FTV)

M&T Bank Corp decreased its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 42.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,492 shares of the technology company's stock after selling 26,350 shares during the period. M&T Bank Corp's holdings in Fortive were worth $2,801,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock valued at $634,701,000 after acquiring an additional 977,428 shares during the period. Mizuho Securities USA LLC raised its stake 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 acquiring an additional 3,972,855 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Fortive by 3.1% during the 3rd 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 worth $271,851,000 after purchasing an additional 103,530 shares during the period. Dimensional Fund Advisors LP increased its holdings in Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company's stock valued at $197,726,000 after purchasing an additional 205,893 shares in the last quarter. Finally, Select Equity Group L.P. raised its position in Fortive by 6.8% in the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company's stock valued at $195,721,000 after purchasing an additional 168,368 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Stock Up 0.0 %

Shares of FTV traded up $0.03 during midday trading on Friday, hitting $76.86. The company had a trading volume of 1,976,361 shares, compared to its average volume of 2,001,103. The stock has a market cap of $26.67 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.15 and a beta of 1.14. The company's 50 day moving average price is $76.39 and its 200 day moving average price is $74.37. 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 52 week low of $66.15 and a 52 week high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last announced 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 return on equity of 12.56% and a net margin of 14.35%. The firm 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 company earned $0.85 earnings per share. Fortive's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive's dividend payout ratio (DPR) is 12.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FTV. Argus reaffirmed a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Morgan Stanley began coverage on shares of Fortive in a research report on Friday, September 6th. They issued an "overweight" rating and a $89.00 price objective for the company. Truist Financial dropped their price objective on shares of Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Mizuho upgraded shares of Fortive from a "neutral" rating to an "outperform" rating and upped their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Raymond James raised shares of Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Fortive has an average rating of "Moderate Buy" and an average price target of $86.73.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company's stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

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.