Boston Family Office LLC Trims Stock Position in Fortive Co. (NYSE:FTV)

Boston Family Office LLC lessened its holdings in Fortive Co. (NYSE:FTV) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,111 shares of the technology company’s stock after selling 152 shares during the period. Boston Family Office LLC’s holdings in Fortive were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FTV. Capital Performance Advisors LLP purchased a new position in shares of Fortive in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC purchased a new position in shares of Fortive in the 2nd quarter valued at about $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive in the 2nd quarter valued at about $30,000. Goodman Advisory Group LLC purchased a new position in shares of Fortive in the 2nd quarter valued at about $31,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Fortive in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of several research analyst reports. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Wells Fargo & Company lowered their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Truist Financial lowered their price objective on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Argus reiterated a “hold” rating on shares of Fortive in a report on Monday, November 18th. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Fortive Trading Up 1.6 %

Shares of Fortive stock opened at $79.69 on Tuesday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The stock has a market cap of $27.65 billion, a P/E ratio of 31.75, a P/E/G ratio of 2.15 and a beta of 1.13. The stock’s 50 day simple moving average is $75.97 and its 200-day simple moving average is $74.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts predict that Fortive Co. will post 3.85 EPS for the current fiscal 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 issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is presently 12.75%.

Insider Activity at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,895 shares of company stock worth $14,261,051. Insiders own 1.01% of the company’s stock.

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.