Creative Planning Sells 566 Shares of Fortive Co. (NYSE:FTV)

Creative Planning lessened its stake in shares of Fortive Co. (NYSE:FTV) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,153 shares of the technology company’s stock after selling 566 shares during the period. Creative Planning’s holdings in Fortive were worth $2,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FTV. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Fortive by 9.3% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 21,800 shares of the technology company’s stock valued at $1,875,000 after acquiring an additional 1,863 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Fortive during the first quarter valued at approximately $55,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Fortive by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 841,041 shares of the technology company’s stock valued at $72,346,000 after acquiring an additional 4,669 shares in the last quarter. Arcus Capital Partners LLC bought a new stake in shares of Fortive during the first quarter valued at approximately $756,000. Finally, First Trust Direct Indexing L.P. raised its stake in shares of Fortive by 14.1% during the first quarter. First Trust Direct Indexing L.P. now owns 8,375 shares of the technology company’s stock valued at $720,000 after acquiring an additional 1,035 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Finally, 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.10.

Fortive Price Performance

NYSE FTV opened at $74.97 on Monday. The firm’s fifty day simple moving average is $75.16 and its two-hundred day simple moving average is $74.70. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12-month low of $63.50 and a 12-month high of $87.10. The firm has a market capitalization of $26.26 billion, a P/E ratio of 30.11, a P/E/G ratio of 2.21 and a beta of 1.12.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio is currently 12.85%.

Insiders Place Their Bets

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction on 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 in the company, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

About Fortive

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.