Allspring Global Investments Holdings LLC Sells 629,979 Shares of Fortive Co. (NYSE:FTV)

Allspring Global Investments Holdings LLC cut its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 96.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,957 shares of the technology company's stock after selling 629,979 shares during the period. Allspring Global Investments Holdings LLC's holdings in Fortive were worth $1,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FTV. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Fortive by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 841,041 shares of the technology company's stock valued at $72,346,000 after purchasing an additional 4,669 shares during the period. First Trust Direct Indexing L.P. grew its position in Fortive by 14.1% in the first quarter. First Trust Direct Indexing L.P. now owns 8,375 shares of the technology company's stock valued at $720,000 after acquiring an additional 1,035 shares during the period. New Century Financial Group LLC bought a new stake in Fortive in the first quarter valued at $233,000. Maryland State Retirement & Pension System grew its position in Fortive by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 27,751 shares of the technology company's stock valued at $2,216,000 after acquiring an additional 750 shares during the period. Finally, Commonwealth Equity Services LLC grew its position in Fortive by 5.6% in the first quarter. Commonwealth Equity Services LLC now owns 24,289 shares of the technology company's stock valued at $2,089,000 after acquiring an additional 1,285 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Activity

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now owns 68,161 shares of the company's stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company's stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FTV shares. Wells Fargo & Company lowered their price target on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday. Mizuho upgraded Fortive from a "neutral" rating to an "outperform" rating and upped their price target for the company from $80.00 to $90.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. upgraded Fortive from a "neutral" rating to an "overweight" rating and upped their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Truist Financial upped their price target on Fortive from $82.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada lowered their price target on Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.30.

Fortive Trading Down 0.9 %

Shares of FTV traded down $0.65 during trading hours on Thursday, hitting $71.44. 3,175,281 shares of the stock traded hands, compared to its average volume of 1,901,363. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive Co. has a 1-year low of $64.44 and a 1-year high of $87.10. The firm has a market capitalization of $25.15 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. The business has a fifty day moving average of $75.31 and a 200-day moving average of $74.55.

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 12.32% and a net margin of 14.39%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Friday, September 13th. Fortive's dividend payout ratio (DPR) is presently 12.65%.

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.