Fortive Corporation $FTV Shares Sold by Ethic Inc.

Ethic Inc. cut its holdings in Fortive Corporation (NYSE:FTV) by 24.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,899 shares of the technology company’s stock after selling 11,158 shares during the period. Ethic Inc.’s holdings in Fortive were worth $1,858,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Arkadios Wealth Advisors increased its stake in Fortive by 2.1% during the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock worth $500,000 after acquiring an additional 187 shares during the last quarter. Mather Group LLC. raised its position in Fortive by 86.8% in the third quarter. Mather Group LLC. now owns 467 shares of the technology company’s stock valued at $26,000 after purchasing an additional 217 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Fortive by 2.0% in the 2nd quarter. Baird Financial Group Inc. now owns 11,127 shares of the technology company’s stock valued at $680,000 after purchasing an additional 222 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Fortive by 4.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 5,604 shares of the technology company’s stock valued at $310,000 after purchasing an additional 224 shares during the last quarter. Finally, Dakota Community Bank & Trust NA lifted its stake in shares of Fortive by 59.2% in the 1st quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock valued at $39,000 after purchasing an additional 261 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Down 0.1%

Shares of NYSE FTV opened at $67.83 on Friday. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.72 and a beta of 1.03. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.59. Fortive Corporation has a 52-week low of $50.09 and a 52-week high of $68.94. The business’s 50 day moving average is $59.20 and its two-hundred day moving average is $59.20.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Fortive had a return on equity of 15.79% and a net margin of 14.83%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Fortive Corporation will post 3.12 EPS for the current year.

Fortive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Friday, November 27th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, November 27th. Fortive’s dividend payout ratio (DPR) is 13.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Fortive from $59.00 to $68.00 and gave the stock a “sector perform” rating in a report on Thursday, October 29th. Robert W. Baird set a $75.00 price objective on shares of Fortive in a report on Thursday, October 29th. Citigroup upped their target price on shares of Fortive from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Mizuho set a $55.00 target price on shares of Fortive in a research report on Thursday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Fortive from $56.00 to $59.00 and gave the stock an “underweight” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $64.36.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 48,442 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $64.60, for a total transaction of $3,129,353.20. Following the completion of the transaction, the senior vice president directly owned 79,118 shares in the company, valued at $5,111,022.80. This trade represents a 37.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christopher Mulhall sold 17,962 shares of Fortive stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $65.56, for a total value of $1,177,588.72. Following the completion of the transaction, the chief accounting officer directly owned 44,598 shares of the company’s stock, valued at approximately $2,923,844.88. This represents a 28.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 74,497 shares of company stock valued at $4,837,600 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

Fortive Company Profile

Fortive is a global technology company that develops products and software for industrial, infrastructure and healthcare customers. Its businesses focus on helping organizations improve the safety, reliability and efficiency of their operations. Fortive’s offerings include electronic test and measurement tools, industrial safety and gas-detection systems, and software for managing facilities, assets and construction projects. Its portfolio includes brands such as Fluke, Industrial Scientific, Gordian, Accruent and Provation.