Paloma Partners Management Co Purchases 46,910 Shares of Fortive Co. (NYSE:FTV)

Paloma Partners Management Co grew its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 346.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,457 shares of the technology company's stock after purchasing an additional 46,910 shares during the quarter. Paloma Partners Management Co's holdings in Fortive were worth $4,772,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FTV. Mizuho Securities USA LLC increased its holdings in shares of Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock valued at $315,720,000 after purchasing an additional 3,972,855 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company's stock valued at $107,271,000 after acquiring an additional 505,882 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Fortive by 1,053.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company's stock valued at $28,359,000 after acquiring an additional 349,530 shares during the period. Clarkston Capital Partners LLC acquired a new stake in Fortive in the third quarter worth approximately $25,930,000. Finally, Panagora Asset Management Inc. boosted its stake in Fortive by 27.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company's stock valued at $94,041,000 after purchasing an additional 273,168 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays cut their price target 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. 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 report on Thursday, October 31st. Argus reiterated a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Truist Financial decreased their target price on Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Friday, November 1st. Finally, Raymond James raised Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 target price for the company in a report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.82.

Fortive Stock Down 0.7 %

Shares of FTV traded down $0.59 during trading hours on Monday, reaching $78.74. The company's stock had a trading volume of 790,265 shares, compared to its average volume of 1,998,382. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market cap of $27.32 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 2.18 and a beta of 1.13. The company has a 50 day moving average of $76.23 and a two-hundred day moving average of $74.22. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last announced 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. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm's revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. As a group, research analysts predict that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive's dividend payout ratio is 12.75%.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company's stock, valued at approximately $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. Over the last three months, insiders sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is owned by insiders.

About Fortive

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.