Gulf International Bank UK Ltd Decreases Stock Holdings in Fortive Co. (NYSE:FTV)

Gulf International Bank UK Ltd lessened its holdings in Fortive Co. (NYSE:FTV) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,900 shares of the technology company’s stock after selling 1,371 shares during the period. Gulf International Bank UK Ltd’s holdings in Fortive were worth $2,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares in the last quarter. Boston Partners raised its holdings in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after buying an additional 1,045,245 shares during the period. The Manufacturers Life Insurance Company lifted its position in Fortive by 78.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock worth $63,221,000 after acquiring an additional 373,957 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Fortive by 1,053.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock worth $28,359,000 after acquiring an additional 349,530 shares during the period. Finally, Panagora Asset Management Inc. grew its position in Fortive by 27.4% in the second quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock valued at $94,041,000 after acquiring an additional 273,168 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, 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 $5,433,135.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction that occurred 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 owns 73,391 shares in the company, 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. In the last 90 days, insiders have sold 192,895 shares of company stock valued at $13,878,151. Insiders own 1.01% of the company’s stock.

Fortive Stock Performance

FTV stock opened at $74.29 on Thursday. The stock’s 50 day simple moving average is $75.20 and its 200 day simple moving average is $74.27. Fortive Co. has a 12-month low of $64.69 and a 12-month high of $87.10. The firm has a market cap of $25.77 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.95 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted its quarterly earnings results 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. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. Fortive’s payout ratio is 12.75%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FTV shares. Royal Bank of Canada decreased their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $90.00 to $92.00 in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.20.

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.