Fortive Co. (NYSE:FTV) Shares Sold by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. cut its holdings in Fortive Co. (NYSE:FTV) by 87.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,672 shares of the technology company’s stock after selling 33,259 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Fortive were worth $369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC lifted its holdings in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after purchasing an additional 135 shares in the last quarter. Liberty Capital Management Inc. raised its position in shares of Fortive by 0.7% during the 3rd quarter. Liberty Capital Management Inc. now owns 41,622 shares of the technology company’s stock worth $3,285,000 after purchasing an additional 287 shares during the last quarter. Eastern Bank purchased a new position in Fortive in the 3rd quarter valued at about $80,000. Sequoia Financial Advisors LLC boosted its holdings in Fortive by 11.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,828 shares of the technology company’s stock worth $776,000 after buying an additional 989 shares during the last quarter. Finally, Defender Capital LLC. increased its stake in Fortive by 10.1% during the 3rd quarter. Defender Capital LLC. now owns 257,833 shares of the technology company’s stock worth $20,351,000 after buying an additional 23,667 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Trading Down 0.7 %

Shares of Fortive stock opened at $75.01 on Friday. Fortive Co. has a fifty-two week low of $63.05 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The firm has a market capitalization of $26.41 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.24 and a beta of 1.12. The stock has a 50 day moving average of $74.95 and a 200 day moving average of $74.89.

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

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Tuesday, September 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is presently 12.65%.

Insider Buying and Selling at Fortive

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

Wall Street Analyst Weigh In

FTV has been the topic of a number of research analyst reports. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $90.00 in a research note on Monday, July 8th. Barclays lifted their target price on shares of Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Truist Financial increased their target price on shares of Fortive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley began coverage on shares of Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Finally, Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.36.

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.