Rockefeller Capital Management L.P. Reduces Stock Holdings in Fortive Co. (NYSE:FTV)

Rockefeller Capital Management L.P. lowered its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,148 shares of the technology company's stock after selling 8,160 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Fortive were worth $2,459,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers raised its stake in shares of Fortive by 599.3% during the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company's stock worth $4,520,000 after purchasing an additional 45,032 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Fortive by 24.1% in the 1st quarter. Cetera Advisors LLC now owns 9,519 shares of the technology company's stock worth $819,000 after acquiring an additional 1,848 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Fortive by 44.7% in the second quarter. GAMMA Investing LLC now owns 1,020 shares of the technology company's stock valued at $76,000 after acquiring an additional 315 shares in the last quarter. CWM LLC increased its stake in shares of Fortive by 10.2% during the second quarter. CWM LLC now owns 9,523 shares of the technology company's stock worth $706,000 after acquiring an additional 879 shares during the period. Finally, OLD National Bancorp IN raised its holdings in Fortive by 6.7% during the second quarter. OLD National Bancorp IN now owns 4,585 shares of the technology company's stock worth $340,000 after purchasing an additional 286 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Trading Down 0.3 %

FTV stock traded down $0.25 during midday trading on Friday, hitting $78.89. The stock had a trading volume of 2,957,986 shares, compared to its average volume of 2,614,847. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a market cap of $27.37 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.14. The company's 50-day moving average price is $76.37 and its 200 day moving average price is $74.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS 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 prior year, the firm posted $0.85 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently announced 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 is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. Fortive's payout ratio is 12.75%.

Insider Buying and Selling

In other Fortive 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 transaction of $12,320,351.68. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction on Friday, September 13th. The stock was 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 17.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,895 shares of company stock valued at $14,261,051. Insiders own 1.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Argus reissued a "hold" rating on shares of Fortive in a research note on Monday, November 18th. JPMorgan Chase & Co. raised Fortive from a "neutral" rating to an "overweight" rating and raised their target price for the company from $90.00 to $92.00 in a report on Thursday, October 10th. UBS Group assumed coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price on the stock. Morgan Stanley assumed coverage on shares of Fortive in a research note on Friday, September 6th. They issued an "overweight" rating and a $89.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on shares of Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Fortive currently has an average rating of "Moderate Buy" and an average price target of $87.82.

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.