Fortive Corporation $FTV Shares Sold by North Dakota State Investment Board

by · The Cerbat Gem

North Dakota State Investment Board lessened its holdings in shares of Fortive Corporation (NYSE:FTV – Free Report) by 55.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,320 shares of the technology company’s stock after selling 11,743 shares during the period. North Dakota State Investment Board’s holdings in Fortive were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. bought a new position in Fortive in the 2nd quarter worth approximately $1,626,463,000. Flossbach Von Storch SE bought a new position in Fortive in the 2nd quarter valued at $739,668,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Fortive during the second quarter valued at approximately $527,526,000. The Manufacturers Life Insurance Company bought a new stake in shares of Fortive in the second quarter valued at about $211,807,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Fortive by 0.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,205,043 shares of the technology company’s stock worth $175,668,000 after buying an additional 15,711 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 8,662 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.59, for a total value of $533,492.58. Following the transaction, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $4,872,877.62. This trade represents a 9.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is owned by insiders.

Fortive Stock Performance

Shares of FTV stock opened at $65.09 on Monday. Fortive Corporation has a 52 week low of $49.03 and a 52 week high of $67.03. The company has a market cap of $19.37 billion, a P/E ratio of 31.00, a PEG ratio of 2.62 and a beta of 1.07. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $57.77 and a two-hundred day moving average of $58.65.

Fortive (NYSE:FTV – Get Free Report) last announced its earnings results on Wednesday, October 28th. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a return on equity of 15.79% and a net margin of 14.83%. Fortive’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, analysts anticipate that Fortive Corporation will post 3.12 EPS for the current year.

Fortive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, September 4th. This is a boost from Fortive’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.4%. Fortive’s dividend payout ratio is currently 13.33%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Fortive from $56.00 to $59.00 and gave the stock an “underweight” rating in a research report on Thursday. Weiss Ratings upgraded shares of Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Citigroup boosted their price objective on shares of Fortive from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial reissued a “hold” rating and set a $65.00 price objective (up from $63.00) on shares of Fortive in a research report on Thursday. Finally, Robert W. Baird set a $75.00 target price on shares of Fortive in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $64.36.

Check Out Our Latest Research Report on Fortive

Fortive Profile

(Free Report)

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.

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