Mountain Pacific Investment Advisers LLC Sells 107,836 Shares of Fortive Corporation $FTV

Mountain Pacific Investment Advisers LLC reduced its stake in shares of Fortive Corporation (NYSE:FTV) by 50.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 105,943 shares of the technology company’s stock after selling 107,836 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Fortive were worth $5,190,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. True Wealth Design LLC increased its position in shares of Fortive by 815.4% during the 2nd quarter. True Wealth Design LLC now owns 476 shares of the technology company’s stock valued at $25,000 after purchasing an additional 424 shares during the last quarter. Quent Capital LLC purchased a new position in Fortive during the third quarter worth $28,000. Exchange Traded Concepts LLC increased its position in Fortive by 46.7% during the third quarter. Exchange Traded Concepts LLC now owns 741 shares of the technology company’s stock valued at $36,000 after acquiring an additional 236 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Fortive by 246.2% in the first quarter. Geneos Wealth Management Inc. now owns 502 shares of the technology company’s stock valued at $37,000 after acquiring an additional 357 shares during the period. Finally, J.Safra Asset Management Corp raised its stake in shares of Fortive by 71.1% in the third quarter. J.Safra Asset Management Corp now owns 782 shares of the technology company’s stock valued at $38,000 after acquiring an additional 325 shares during the period. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on FTV. Robert W. Baird lifted their price target on shares of Fortive from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. restated an “underweight” rating and set a $57.00 target price (up previously from $55.00) on shares of Fortive in a research report on Friday, January 16th. Truist Financial reaffirmed a “hold” rating and set a $58.00 target price (up previously from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Mizuho reissued an “underperform” rating and set a $51.00 price target (down from $54.00) on shares of Fortive in a research note on Monday, January 5th. Finally, Wells Fargo & Company boosted their price objective on Fortive from $55.00 to $59.00 and gave the company an “equal weight” rating in a report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.77.

Fortive Stock Up 3.4%

Shares of NYSE:FTV opened at $54.47 on Thursday. The business’s 50 day moving average is $54.11 and its 200 day moving average is $51.01. The stock has a market cap of $17.30 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.95 and a beta of 1.13. Fortive Corporation has a 52-week low of $46.34 and a 52-week high of $83.32. The company has a quick ratio of 0.58, a current ratio of 0.70 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $0.97 EPS. Fortive’s revenue was up 2.3% on a year-over-year basis. Fortive has set its FY 2025 guidance at 2.630-2.67 EPS. Sell-side analysts predict that Fortive Corporation will post 4.05 EPS for the current year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio is 13.71%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $50.35, for a total transaction of $110,367.20. Following the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at approximately $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.