Sky Investment Group LLC Sells 560 Shares of Fortive Co. (NYSE:FTV)

by · The Markets Daily

Sky Investment Group LLC trimmed its position in Fortive Co. (NYSE:FTV – Free Report) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,254 shares of the technology company’s stock after selling 560 shares during the quarter. Sky Investment Group LLC’s holdings in Fortive were worth $3,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTV. Nordea Investment Management AB lifted its holdings in Fortive by 70.1% during the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after buying an additional 369,351 shares during the period. BNP Paribas Financial Markets grew its stake in Fortive by 104.3% in the first quarter. BNP Paribas Financial Markets now owns 369,076 shares of the technology company’s stock valued at $31,748,000 after purchasing an additional 188,415 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in Fortive by 4.8% in the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after purchasing an additional 226 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Fortive by 599.3% during the first quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company’s stock valued at $4,520,000 after buying an additional 45,032 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Fortive by 6.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company’s stock valued at $23,719,000 after buying an additional 17,225 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE FTV traded down $0.95 during trading hours on Tuesday, reaching $76.17. The stock had a trading volume of 454,278 shares, compared to its average volume of 1,845,578. Fortive Co. has a 52-week low of $63.05 and a 52-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 stock has a market cap of $26.81 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 2.24 and a beta of 1.12. The stock has a fifty day moving average of $74.68 and a 200 day moving average of $74.95.

Fortive (NYSE:FTV – Get Free Report) last released its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Sell-side analysts predict that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on FTV. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Thursday, September 5th. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Morgan Stanley began coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and upped their target price for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Barclays raised their price target on Fortive from $96.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.36.

View Our Latest Analysis on Fortive

Insider Buying and Selling at Fortive

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

About Fortive

(Free Report)

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.

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