National Pension Service Decreases Stock Position in Fortive Co. (NYSE:FTV)

National Pension Service decreased its position in Fortive Co. (NYSE:FTV) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,618 shares of the technology company’s stock after selling 7,985 shares during the quarter. National Pension Service owned 0.14% of Fortive worth $37,619,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its stake in Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares during the period. Atomi Financial Group Inc. lifted its stake in shares of Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after acquiring an additional 226 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Fortive by 599.3% in the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after purchasing an additional 45,032 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Fortive by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after purchasing an additional 17,225 shares in the last quarter. Finally, Addenda Capital Inc. increased its holdings in 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 purchasing an additional 7,936 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,895 shares of company stock worth $13,878,151. Company insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada cut their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 31st. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Morgan Stanley started coverage on Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and an average target price of $88.20.

Fortive Price Performance

Shares of FTV opened at $74.29 on Thursday. Fortive Co. has a 12 month low of $64.69 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The stock has a fifty day moving average price of $75.20 and a 200 day moving average price of $74.27. The company has a market cap of $25.77 billion, a P/E ratio of 29.60, a PEG ratio of 1.95 and a beta of 1.13.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Fortive Company 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.