Toronto Dominion Bank Purchases 57,971 Shares of Fortive Co. (NYSE:FTV)

Toronto Dominion Bank raised its stake in Fortive Co. (NYSE:FTV - Free Report) by 48.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 178,199 shares of the technology company's stock after purchasing an additional 57,971 shares during the quarter. Toronto Dominion Bank owned 0.05% of Fortive worth $14,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Raymond James & Associates grew its stake in shares of Fortive by 15.0% in the third quarter. Raymond James & Associates now owns 395,488 shares of the technology company's stock worth $31,216,000 after purchasing an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of Fortive by 4.8% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock worth $389,000 after buying an additional 226 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Fortive by 111.3% during the second quarter. Blue Trust Inc. now owns 541 shares of the technology company's stock valued at $40,000 after buying an additional 285 shares during the period. Versor Investments LP bought a new position in shares of Fortive during the second quarter valued at approximately $749,000. Finally, TD Asset Management Inc lifted its stake in Fortive by 3.6% in the second quarter. TD Asset Management Inc now owns 864,924 shares of the technology company's stock worth $64,091,000 after acquiring an additional 30,234 shares during the period. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James raised shares of 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. Argus reiterated a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Truist Financial lowered their price objective on shares of Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a report on Friday, November 1st. Wells Fargo & Company reduced their target price on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Finally, Citigroup cut Fortive from a "buy" rating to a "neutral" rating and lowered their target price for the company from $92.00 to $86.00 in a research note on Monday, December 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Fortive currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.73.

Fortive Stock Up 0.0 %

Fortive stock traded up $0.03 during mid-day trading on Friday, hitting $76.86. The company had a trading volume of 1,976,361 shares, compared to its average volume of 2,001,103. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. 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's 50 day moving average price is $76.39 and its two-hundred day moving average price is $74.37. The company has a market capitalization of $26.67 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14.

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, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. As a group, sell-side analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company 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 0.42%. Fortive's payout ratio is currently 12.75%.

Insider Activity at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were 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 in the company, valued at $3,058,503.21. The trade was a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by insiders.

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.