EFG Asset Management Americas Corp. Sells 73,629 Shares of Fortive Corporation $FTV

EFG Asset Management Americas Corp. reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 92.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,134 shares of the technology company’s stock after selling 73,629 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Fortive were worth $320,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dodge & Cox boosted its holdings in Fortive by 181.5% during the 1st quarter. Dodge & Cox now owns 21,900,363 shares of the technology company’s stock valued at $1,602,669,000 after acquiring an additional 14,120,456 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Fortive by 50.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,112,403 shares of the technology company’s stock valued at $959,567,000 after purchasing an additional 4,382,242 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Fortive by 96.6% during the first quarter. Invesco Ltd. now owns 5,626,962 shares of the technology company’s stock valued at $411,781,000 after purchasing an additional 2,764,432 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Fortive by 4,854.2% in the first quarter. Pacer Advisors Inc. now owns 1,451,325 shares of the technology company’s stock worth $106,208,000 after purchasing an additional 1,422,030 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Fortive in the first quarter worth $76,671,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 0.8%

Shares of Fortive stock opened at $50.82 on Friday. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The firm has a market cap of $16.14 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 3.04 and a beta of 1.16. The company has a 50-day moving average of $49.66 and a 200 day moving average of $55.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58.

Fortive (NYSE:FTV) last posted its quarterly earnings data on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. The business had revenue of $1.07 billion for the quarter. As a group, sell-side analysts anticipate that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, November 28th. Fortive’s dividend payout ratio (DPR) is 13.71%.

Analyst Upgrades and Downgrades

FTV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Fortive from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Zacks Research upgraded shares of Fortive from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Mizuho reduced their price target on Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Royal Bank Of Canada lowered their price target on Fortive from $58.00 to $56.00 and set a “sector perform” rating for the company in a research report on Thursday, July 31st. Finally, Citigroup lifted their price objective on Fortive from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of “Hold” and a consensus price target of $57.38.

Insider Buying and Selling

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president directly owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. The trade was a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

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.