Mutual of America Capital Management LLC Decreases Position in Fortive Co. (NYSE:FTV)

Mutual of America Capital Management LLC trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,150 shares of the technology company’s stock after selling 1,261 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fortive were worth $3,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its stake in shares of Fortive by 1.7% during the third quarter. Natixis Advisors LLC now owns 43,593 shares of the technology company’s stock worth $3,441,000 after acquiring an additional 737 shares during the last quarter. Mizuho Securities USA LLC grew its position in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock worth $315,720,000 after purchasing an additional 3,972,855 shares during the last quarter. Seelaus Asset Management LLC acquired a new position in Fortive during the 3rd quarter valued at approximately $303,000. Empowered Funds LLC raised its holdings in shares of Fortive by 3.3% in the third quarter. Empowered Funds LLC now owns 5,410 shares of the technology company’s stock worth $427,000 after buying an additional 174 shares during the last quarter. Finally, Empirical Finance LLC lifted its stake in shares of Fortive by 2.3% during the third quarter. Empirical Finance LLC now owns 12,030 shares of the technology company’s stock worth $950,000 after buying an additional 266 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FTV has been the topic of several research reports. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $90.00 in a research report on Friday, September 6th. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. UBS Group started coverage on shares of Fortive in a report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Trading Up 1.9 %

Shares of Fortive stock opened at $78.42 on Friday. The firm has a 50-day simple moving average of $75.85 and a two-hundred day simple moving average of $74.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The company has a market cap of $27.21 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share 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 company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. Fortive’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

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

Insiders Place Their Bets

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,895 shares of company stock worth $14,261,051. Company 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.