Mountain Pacific Investment Advisers Inc. ID Has $20.92 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Mountain Pacific Investment Advisers Inc. ID lowered its position in shares of Fortive Co. (NYSE:FTV) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,143 shares of the technology company’s stock after selling 1,544 shares during the quarter. Fortive makes up approximately 1.3% of Mountain Pacific Investment Advisers Inc. ID’s holdings, making the stock its 29th biggest holding. Mountain Pacific Investment Advisers Inc. ID owned approximately 0.08% of Fortive worth $20,921,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc raised its position in Fortive by 2.9% in the 3rd quarter. abrdn plc now owns 165,769 shares of the technology company’s stock valued at $12,293,000 after purchasing an additional 4,660 shares during the last quarter. Nordea Investment Management AB grew its holdings in Fortive by 34.2% during the 4th quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after acquiring an additional 134,259 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in Fortive by 4.5% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock valued at $61,326,000 after acquiring an additional 35,688 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Fortive by 111.7% in the fourth quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock valued at $86,637,000 after purchasing an additional 620,866 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in Fortive by 12.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,816 shares of the technology company’s stock worth $355,000 after purchasing an additional 531 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the transaction, the chief financial officer now directly owns 61,855 shares in the company, valued at $5,336,849.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Charles E. Mclaughlin sold 40,837 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total transaction of $3,523,416.36. Following the completion of the transaction, the chief financial officer now owns 61,855 shares in the company, valued at $5,336,849.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the completion of the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at approximately $3,162,267. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock worth $5,475,122 over the last three months. Corporate insiders own 0.95% of the company’s stock.

Fortive Stock Down 0.3 %

Shares of Fortive stock opened at $75.97 on Friday. Fortive Co. has a 1 year low of $62.77 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75. The company has a market capitalization of $26.74 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The business has a 50-day moving average of $83.83 and a two-hundred day moving average of $76.13.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Fortive had a net margin of 14.68% and a return on equity of 12.22%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.53 billion. As a group, equities analysts predict that Fortive Co. will post 3.79 EPS for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, May 31st. Fortive’s dividend payout ratio is 12.65%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price objective on Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday. Citigroup lowered their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday. Barclays upped their target price on shares of Fortive from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Mizuho lifted their price target on shares of Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada cut their price objective on shares of Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.46.

About Fortive

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.