Peter C. Underwood Sells 5,000 Shares of Fortive Co. (NYSE:FTV) Stock

Fortive Co. (NYSE:FTV) SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Fortive Stock Up 1.5 %

NYSE:FTV opened at $76.19 on Thursday. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 2.06 and a beta of 1.13. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $75.30 and a 200-day simple moving average of $74.17.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. Analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

FTV has been the subject of several research reports. Wells Fargo & Company dropped their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. UBS Group began coverage on Fortive in a research note on Wednesday. They set a “neutral” rating and a $84.00 price target for the company. Barclays reduced their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, 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 report on Friday, September 6th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Institutional Investors Weigh In On Fortive

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Sector Pension Investment Board increased its stake in shares of Fortive by 11.1% during the third quarter. Public Sector Pension Investment Board now owns 15,065 shares of the technology company’s stock valued at $1,189,000 after buying an additional 1,500 shares during the period. Financial Counselors Inc. increased its position in Fortive by 2.9% during the 3rd quarter. Financial Counselors Inc. now owns 168,456 shares of the technology company’s stock valued at $13,296,000 after purchasing an additional 4,674 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after purchasing an additional 103,530 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Fortive by 113.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 372,034 shares of the technology company’s stock worth $29,365,000 after purchasing an additional 197,636 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in shares of Fortive by 12.5% during the third quarter. Glenmede Trust Co. NA now owns 11,627 shares of the technology company’s stock valued at $918,000 after purchasing an additional 1,293 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Fortive Company 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.