Mill Creek Capital Advisors LLC Sells 827 Shares of Fortive Co. (NYSE:FTV)

Mill Creek Capital Advisors LLC lowered its holdings in Fortive Co. (NYSE:FTV) by 22.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,814 shares of the technology company’s stock after selling 827 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Fortive were worth $222,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FTV. Avantax Advisory Services Inc. bought a new stake in shares of Fortive in the 1st quarter valued at about $253,000. Acadian Asset Management LLC bought a new stake in shares of Fortive in the 1st quarter valued at about $184,000. Edgestream Partners L.P. bought a new stake in shares of Fortive in the 1st quarter valued at about $383,000. Rockport Wealth LLC bought a new position in shares of Fortive during the 1st quarter worth approximately $286,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Fortive by 16.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,844 shares of the technology company’s stock worth $1,277,000 after acquiring an additional 2,055 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 1.0 %

FTV stock opened at $74.82 on Monday. The firm’s fifty day simple moving average is $75.53 and its 200-day simple moving average is $74.16. The company has a market capitalization of $25.96 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10.

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

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 0.43%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Analyst Ratings Changes

Several research analysts recently commented on FTV shares. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Barclays reduced their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Truist Financial reduced their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Finally, Morgan Stanley started coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.82.

Insider Buying and Selling

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s 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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $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. Over the last three months, insiders have sold 197,895 shares of company stock valued at $14,261,051. Corporate insiders own 1.01% of the company’s stock.

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.