Intech Investment Management LLC Sells 14,283 Shares of Fortive Co. (NYSE:FTV)

Intech Investment Management LLC lessened its position in Fortive Co. (NYSE:FTV) by 38.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,423 shares of the technology company’s stock after selling 14,283 shares during the quarter. Intech Investment Management LLC’s holdings in Fortive were worth $1,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in Fortive in the 3rd quarter worth approximately $25,000. Advisors Asset Management Inc. bought a new position in Fortive during the first quarter worth $32,000. Ridgewood Investments LLC bought a new position in Fortive during the second quarter worth $30,000. International Assets Investment Management LLC acquired a new position in Fortive during the 2nd quarter valued at $30,000. Finally, Goodman Advisory Group LLC bought a new stake in Fortive in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Price Performance

NYSE:FTV opened at $79.69 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a market cap of $27.65 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company’s 50-day moving average price is $75.97 and its two-hundred day moving average price is $74.16.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 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 analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. Fortive’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 EPS. On average, equities analysts anticipate that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. Fortive’s payout ratio is 12.75%.

Insider Transactions at Fortive

In other news, SVP Peter C. Underwood sold 5,000 shares of the company’s 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 of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated 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 represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,895 shares of company stock worth $14,261,051. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FTV shares. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a research report on Friday, September 6th. Argus restated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $92.00 in a research note on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

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.