Fortive Co. (NYSE:FTV) Shares Sold by Point72 DIFC Ltd

Point72 DIFC Ltd trimmed its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 30.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,689 shares of the technology company's stock after selling 9,371 shares during the period. Point72 DIFC Ltd's holdings in Fortive were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Raymond James & Associates raised its holdings in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company's stock worth $31,216,000 after acquiring an additional 51,690 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Fortive by 4.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock worth $389,000 after acquiring an additional 226 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Fortive by 599.3% during the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company's stock worth $4,520,000 after acquiring an additional 45,032 shares in the last quarter. Addenda Capital Inc. increased its position in shares of Fortive by 8.8% during the 2nd quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company's stock valued at $7,298,000 after purchasing an additional 7,936 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Fortive by 111.3% during the 2nd quarter. Blue Trust Inc. now owns 541 shares of the technology company's stock valued at $40,000 after purchasing an additional 285 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock worth $14,261,051 over the last quarter. 1.01% of the stock is currently owned by company insiders.

Fortive Trading Up 0.4 %

Fortive stock traded up $0.33 during trading on Thursday, reaching $79.16. 1,745,461 shares of the company were exchanged, compared to its average volume of 1,999,511. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a market capitalization of $27.46 billion, a P/E ratio of 31.54, a PEG ratio of 2.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The stock's 50 day simple moving average is $76.38 and its two-hundred day simple moving average is $74.30.

Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping 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 firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given 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 0.40%. Fortive's dividend payout ratio is currently 12.75%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group assumed coverage on Fortive in a research report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price on the stock. Truist Financial cut their price objective on Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Raymond James raised Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price objective on the stock in a research report on Thursday, September 5th. Wells Fargo & Company cut their price objective on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, Barclays dropped their price target on Fortive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.82.

Fortive 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.