Intech Investment Management LLC Decreases Stock Position in Fortive Co. (NYSE:FTV)

Intech Investment Management LLC lowered its position in shares of Fortive Co. (NYSE:FTV) by 38.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,423 shares of the technology company’s stock after selling 14,283 shares during the period. Intech Investment Management LLC’s holdings in Fortive were worth $1,770,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC lifted its stake in shares of Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after acquiring an additional 3,972,855 shares in the last quarter. Boston Partners raised its position in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Fortive by 78.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock valued at $63,221,000 after buying an additional 373,957 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Fortive by 1,053.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after buying an additional 349,530 shares in the last quarter. Finally, Clarkston Capital Partners LLC bought a new stake in shares of Fortive in the third quarter worth $25,930,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of NYSE FTV opened at $79.69 on Tuesday. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10. 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 stock has a fifty day moving average price of $75.97 and a two-hundred day moving average price of $74.16. The firm has a market cap of $27.65 billion, a P/E ratio of 31.75, a PEG ratio of 2.15 and a beta of 1.13.

Fortive (NYSE:FTV) last issued 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. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the business earned $0.85 earnings per share. Fortive’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts forecast that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is 12.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Truist Financial decreased their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Argus reissued a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Finally, Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’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 transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock valued at $14,261,051 over the last three months. Company insiders own 1.01% of the company’s stock.

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.