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

Mackenzie Financial Corp lowered its position in shares of Fortive Co. (NYSE:FTV) by 16.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 665,094 shares of the technology company’s stock after selling 132,789 shares during the quarter. Mackenzie Financial Corp owned about 0.19% of Fortive worth $48,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new position in shares of Fortive in the 1st quarter valued at about $66,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Fortive by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,124,090 shares of the technology company’s stock valued at $129,421,000 after buying an additional 127,093 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Fortive by 123.0% in the 1st quarter. Panagora Asset Management Inc. now owns 19,004 shares of the technology company’s stock valued at $1,158,000 after buying an additional 10,481 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Fortive by 11.7% in the 1st quarter. Cibc World Market Inc. now owns 21,144 shares of the technology company’s stock valued at $1,288,000 after buying an additional 2,217 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Fortive by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,693,658 shares of the technology company’s stock valued at $103,217,000 after buying an additional 84,238 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Activity at Fortive

In other Fortive news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at approximately $3,162,267. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,937 shares of company stock worth $5,475,122. Insiders own 0.95% of the company’s stock.

Fortive Trading Down 0.7 %

Shares of Fortive stock opened at $81.02 on Wednesday. The stock has a market cap of $28.47 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.57 and a beta of 1.13. The stock’s 50 day simple moving average is $84.56 and its 200-day simple moving average is $75.92. Fortive Co. has a 1-year low of $62.70 and a 1-year high of $87.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio is presently 13.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FTV. Citigroup boosted their price objective on Fortive from $90.00 to $101.00 and gave the company a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their price target on Fortive from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 1st. Mizuho lifted their price target on Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. lifted their price target on Fortive from $83.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.31.

About Fortive

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.