Cornercap Investment Counsel Inc. Has $1.67 Million Holdings in Fortive Co. (NYSE:FTV)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Fortive Co. (NYSE:FTV) by 27.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,183 shares of the technology company’s stock after selling 7,912 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Fortive were worth $1,672,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Fortive by 41.1% in the first quarter. Empowered Funds LLC now owns 5,138 shares of the technology company’s stock valued at $442,000 after buying an additional 1,496 shares during the period. Avantax Advisory Services Inc. acquired a new position in Fortive in the first quarter valued at $253,000. GM Advisory Group LLC acquired a new position in Fortive in the first quarter valued at $207,000. Banco Santander S.A. lifted its holdings in Fortive by 64.1% in the first quarter. Banco Santander S.A. now owns 13,470 shares of the technology company’s stock valued at $1,159,000 after buying an additional 5,262 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Fortive in the first quarter valued at $184,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,895 shares of company stock valued at $14,261,051 in the last 90 days. 1.01% of the stock is currently owned by company insiders.

Fortive Stock Performance

NYSE FTV opened at $75.62 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The company has a 50-day simple moving average of $75.39 and a 200 day simple moving average of $74.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $26.24 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

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

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. Fortive’s dividend payout ratio is 12.75%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Finally, UBS Group began coverage on Fortive in a research report on Wednesday. They issued a “neutral” rating and a $84.00 price target for the company. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $87.82.

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.