National Pension Service Sells 7,985 Shares of Fortive Co. (NYSE:FTV)

National Pension Service reduced its holdings in Fortive Co. (NYSE:FTV - Free Report) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 476,618 shares of the technology company's stock after selling 7,985 shares during the period. National Pension Service owned 0.14% of Fortive worth $37,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in Fortive during the second quarter worth $30,000. International Assets Investment Management LLC acquired a new position in Fortive during the second quarter worth approximately $30,000. Goodman Advisory Group LLC bought a new stake in Fortive in the second quarter valued at approximately $31,000. Advisors Asset Management Inc. acquired a new stake in shares of Fortive in the first quarter valued at approximately $32,000. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company's stock worth $33,000 after acquiring an additional 176 shares during the period. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on FTV. Barclays reduced their target price on shares of Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Truist Financial dropped 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. JPMorgan Chase & Co. raised Fortive from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Finally, StockNews.com upgraded shares of Fortive from a "hold" rating to a "buy" rating in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.20.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares of the company's stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Stacey A. Walker sold 171,808 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,895 shares of company stock worth $13,878,151 in the last ninety days. Company insiders own 1.01% of the company's stock.

Fortive Price Performance

NYSE FTV traded down $0.28 on Thursday, hitting $74.01. 3,697,649 shares of the company's stock were exchanged, compared to its average volume of 1,942,329. Fortive Co. has a 52 week low of $64.88 and a 52 week high of $87.10. The stock has a 50-day moving average of $75.20 and a 200-day moving average of $74.27. 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 stock has a market cap of $25.68 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.95 and a beta of 1.13.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the prior year, the company earned $0.85 EPS. Fortive's revenue was up 2.7% compared to the same quarter last year. Analysts expect that Fortive Co. will post 3.85 earnings per share 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 issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive's dividend payout ratio (DPR) is presently 12.75%.

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.