Fortive Co. (NYSE:FTV) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Fortive Co. (NYSE:FTV) by 12.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,728 shares of the technology company’s stock after selling 8,568 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Fortive were worth $4,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Capital Performance Advisors LLP acquired a new position in shares of Fortive during the 3rd quarter worth $25,000. Ridgewood Investments LLC purchased a new stake in shares of Fortive in the second quarter valued at about $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive in the second quarter valued at approximately $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive in the second quarter valued at approximately $31,000. Finally, Pinnacle Bancorp Inc. raised its position in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Price Performance

Shares of Fortive stock opened at $78.96 on Tuesday. The business’s fifty day moving average price is $76.23 and its 200 day moving average price is $74.22. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $27.40 billion, a P/E ratio of 31.46, a PEG ratio of 2.18 and a beta of 1.13.

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. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The firm 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s payout ratio is 12.75%.

Insider Activity at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 17.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,895 shares of company stock worth $14,261,051. Corporate insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of analyst reports. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Truist Financial dropped their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They set an “overweight” rating and a $89.00 price target for the company. Finally, JPMorgan Chase & Co. raised shares of Fortive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

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.