North Dakota State Investment Board Sells 11,743 Shares of Fortive Corporation $FTV

North Dakota State Investment Board lowered its position in Fortive Corporation (NYSE:FTV) by 55.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,320 shares of the technology company’s stock after selling 11,743 shares during the period. North Dakota State Investment Board’s holdings in Fortive were worth $511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FTV. Arkadios Wealth Advisors lifted its stake in Fortive by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company’s stock valued at $500,000 after acquiring an additional 187 shares during the last quarter. Mather Group LLC. raised its holdings in shares of 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 last quarter. Baird Financial Group Inc. lifted its stake in Fortive by 2.0% in the second 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. increased its stake in Fortive by 4.2% in the 1st quarter. First Citizens Bank & Trust Co. now owns 5,604 shares of the technology company’s stock worth $310,000 after acquiring an additional 224 shares during the last quarter. Finally, Dakota Community Bank & Trust NA boosted its position in Fortive by 59.2% during the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company’s stock valued at $39,000 after buying an additional 261 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the completion of the sale, the senior vice president owned 79,118 shares of the company’s stock, valued at $4,872,877.62. The trade was a 9.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Citigroup increased their target price on Fortive from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank Of Canada upped their target price on shares of Fortive from $59.00 to $68.00 and gave the company a “sector perform” rating in a research report on Thursday. Mizuho set a $55.00 price target on Fortive in a report on Thursday. Truist Financial restated a “hold” rating and set a $65.00 target price (up from $63.00) on shares of Fortive in a report on Thursday. Finally, Evercore began coverage on shares of Fortive in a report on Monday, September 28th. They issued a “hold” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.36.

Fortive Trading Down 0.2%

Shares of NYSE FTV opened at $65.09 on Monday. The stock’s 50 day moving average price is $57.77 and its two-hundred day moving average price is $58.65. The stock has a market capitalization of $19.37 billion, a P/E ratio of 31.00, a PEG ratio of 2.62 and a beta of 1.07. 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 $49.03 and a 52-week high of $67.03.

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

Fortive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a $0.07 dividend. This is a boost from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, September 4th. Fortive’s payout ratio is presently 13.33%.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.