Bleakley Financial Group LLC Trims Position in Fortive Co. (NYSE:FTV)

Bleakley Financial Group LLC trimmed its holdings in Fortive Co. (NYSE:FTV) by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,844 shares of the technology company’s stock after selling 205 shares during the period. Bleakley Financial Group LLC’s holdings in Fortive were worth $303,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lipe & Dalton raised its holdings in shares of Fortive by 1.9% in the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after buying an additional 130 shares during the last quarter. RDA Financial Network increased its stake in shares of Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after acquiring an additional 138 shares during the period. Pitcairn Co. increased its stake in shares of Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after acquiring an additional 139 shares during the period. QRG Capital Management Inc. increased its stake in shares of Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after acquiring an additional 146 shares during the period. Finally, Andina Capital Management LLC increased its stake in shares of Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after acquiring an additional 147 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Down 0.5 %

FTV stock opened at $75.51 on Thursday. The company’s 50 day simple moving average is $74.95 and its 200-day simple moving average is $74.89. The firm has a market capitalization of $26.58 billion, a PE ratio of 29.85, a P/E/G ratio of 2.24 and a beta of 1.12. Fortive Co. has a 12 month low of $63.05 and a 12 month high of $87.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 earnings per share. Equities analysts expect that Fortive Co. will post 3.82 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price target on shares of Fortive in a research note on Friday, September 6th. Morgan Stanley assumed coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price target on the stock. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Truist Financial upped their target price on shares of Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.36.

Insider Activity

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 68,161 shares of the company’s stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% 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.