Fortive Co. (NYSE:FTV) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Fortive Co. (NYSE:FTV - Free Report) by 113.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 372,034 shares of the technology company's stock after buying an additional 197,636 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.11% of Fortive worth $29,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position 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 acquiring an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings 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 valued at $389,000 after purchasing an additional 226 shares during the last quarter. Cetera Investment Advisers grew its stake 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 valued at $4,520,000 after buying an additional 45,032 shares during the period. Addenda Capital Inc. increased its holdings 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 worth $7,298,000 after buying an additional 7,936 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Fortive by 111.3% in the 2nd quarter. Blue Trust Inc. now owns 541 shares of the technology company's stock worth $40,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the business'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 completion of 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 at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares of the company's stock, valued at approximately $5,030,281.80. This represents a 17.26 % 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 owned by corporate insiders.

Wall Street Analyst Weigh In

FTV has been the subject of a number of research reports. JPMorgan Chase & Co. raised Fortive from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Wolfe Research downgraded shares of Fortive from an "outperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Royal Bank of Canada cut their price target 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. Raymond James upgraded shares of Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a research note on Thursday, September 5th. Finally, Truist Financial cut their target price on shares of Fortive from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $87.82.

Fortive Stock Up 0.0 %

Shares of NYSE:FTV traded up $0.01 during trading on Friday, hitting $79.33. The company's stock had a trading volume of 1,234,827 shares, compared to its average volume of 2,003,695. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The stock's 50-day moving average price is $76.23 and its two-hundred day moving average price is $74.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $27.52 billion, a PE ratio of 31.61, a PEG ratio of 2.18 and a beta of 1.13.

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. The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business's revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. As a group, sell-side analysts expect that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

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. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, November 29th. Fortive's dividend payout ratio is currently 12.75%.

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.