Frank Rimerman Advisors LLC Sells 242 Shares of Fortive Co. (NYSE:FTV)

Frank Rimerman Advisors LLC trimmed its position in Fortive Co. (NYSE:FTV) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,401 shares of the technology company’s stock after selling 242 shares during the period. Frank Rimerman Advisors LLC’s holdings in Fortive were worth $268,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FTV. Nordea Investment Management AB boosted its holdings in Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Fortive by 104.3% in the 1st 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. Raymond James & Associates grew its position in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company’s stock worth $31,216,000 after buying an additional 51,690 shares during the period. Atomi Financial Group Inc. raised its stake in shares of Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company’s stock worth $389,000 after buying an additional 226 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Fortive by 599.3% in 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 period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive 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 sale, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the 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 transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Fortive from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Barclays increased their target price on Fortive from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their target price on Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $77.00 price target on shares of Fortive in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and an average price target of $89.10.

Fortive Price Performance

NYSE FTV opened at $75.15 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. Fortive Co. has a 52-week low of $64.28 and a 52-week high of $87.10. The business has a 50 day simple moving average of $75.25 and a 200 day simple moving average of $74.64. The stock has a market cap of $26.45 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 2.21 and a beta of 1.12.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Tuesday, September 17th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s payout ratio is 12.65%.

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.