Fortive Co. (NYSE:FTV) Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 14.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 297,059 shares of the technology company’s stock after selling 51,281 shares during the quarter. Canoe Financial LP’s holdings in Fortive were worth $23,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Fortive by 9.3% in 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 buying an additional 1,863 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Fortive in the 1st quarter worth approximately $55,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Fortive by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 841,041 shares of the technology company’s stock worth $72,346,000 after purchasing an additional 4,669 shares in the last quarter. Arcus Capital Partners LLC acquired a new stake in Fortive during the first quarter valued at approximately $756,000. Finally, First Trust Direct Indexing L.P. lifted its stake in 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 purchasing an additional 1,035 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FTV shares. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $90.00 in a report on Monday, July 8th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 target price on shares of Fortive in a research report on Friday, September 6th. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Fortive presently has an average rating of “Moderate Buy” and an average target price of $89.10.

Insider Activity

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

Fortive Stock Down 0.1 %

Shares of Fortive stock opened at $74.97 on Monday. The stock has a 50-day simple moving average of $75.16 and a 200-day simple moving average of $74.70. Fortive Co. has a 52-week low of $63.50 and a 52-week high of $87.10. The firm has a market cap of $26.26 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 2.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive Announces Dividend

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

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.