Fortive Co. (NYSE:FTV) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its position in Fortive Co. (NYSE:FTV) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,049 shares of the technology company’s stock after selling 2,678 shares during the quarter. Stifel Financial Corp’s holdings in Fortive were worth $6,634,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FTV. Mizuho Securities USA LLC grew its position in shares of Fortive by 14,635.7% in the 3rd 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. Point72 Asset Management L.P. grew its position in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock worth $152,899,000 after acquiring an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Fortive by 13.8% in the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock worth $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Fortive by 1,014.1% in the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock worth $72,984,000 after purchasing an additional 841,671 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Fortive by 59.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock worth $107,271,000 after purchasing an additional 505,882 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In other news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at $3,058,503.21. This represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

Fortive Stock Up 0.0 %

FTV opened at $76.85 on Friday. Fortive Co. has a one year low of $66.15 and a one 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’s fifty day moving average is $76.39 and its 200-day moving average is $74.37. The company has a market capitalization of $26.66 billion, a PE ratio of 30.62, a P/E/G ratio of 2.15 and a beta of 1.14.

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

Fortive Dividend Announcement

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 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is 12.75%.

Analysts Set New Price Targets

FTV has been the topic of several recent research reports. Citigroup downgraded Fortive from a “buy” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Morgan Stanley initiated coverage on Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target on the stock. Royal Bank of Canada cut their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a report on Thursday, October 31st. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Finally, Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.73.

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.