Fortive Co. (NYSE:FTV) Shares Sold by Walleye Capital LLC

Walleye Capital LLC lessened its stake in shares of Fortive Co. (NYSE:FTV) by 70.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,292 shares of the technology company’s stock after selling 20,035 shares during the quarter. Walleye Capital LLC’s holdings in Fortive were worth $654,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Fortive during the third quarter valued at approximately $25,000. Ridgewood Investments LLC acquired a new position in Fortive in the second quarter worth approximately $30,000. International Assets Investment Management LLC acquired a new position in Fortive in the second quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new position in Fortive in the second quarter worth approximately $31,000. Finally, Pinnacle Bancorp Inc. grew its position in Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 0.3 %

Shares of NYSE:FTV opened at $78.89 on Friday. The firm has a fifty day moving average of $76.37 and a two-hundred day moving average of $74.30. The firm has a market capitalization of $27.37 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.14. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) 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 company’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. On average, equities analysts expect that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

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. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, November 29th. Fortive’s payout ratio is presently 12.75%.

Insider Activity at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. The trade was a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, 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. In the last 90 days, insiders sold 197,895 shares of company stock valued at $14,261,051. Insiders own 1.01% of the company’s stock.

Analyst Upgrades and Downgrades

FTV has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Finally, Truist Financial lowered their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.82.

About Fortive

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.