Fortive Co. (NYSE:FTV) Shares Acquired by SouthState Corp

SouthState Corp increased its stake in shares of Fortive Co. (NYSE:FTV) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,666 shares of the technology company’s stock after acquiring an additional 484 shares during the quarter. SouthState Corp’s holdings in Fortive were worth $1,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FTV. Private Advisor Group LLC raised its holdings in shares of Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after buying an additional 135 shares during the last quarter. RDA Financial Network boosted its position in Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after purchasing an additional 138 shares in the last quarter. Pitcairn Co. grew its stake in Fortive by 1.3% in the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after acquiring an additional 139 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC increased its position in Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FTV shares. Barclays lowered their price target on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada decreased their target price on 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 raised Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Finally, Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Fortive Stock Down 0.1 %

FTV opened at $74.50 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $25.85 billion, a PE ratio of 29.68, a P/E/G ratio of 2.05 and a beta of 1.13. The stock’s fifty day moving average is $75.62 and its 200-day moving average is $74.14. Fortive Co. has a one year low of $66.15 and a one year high of $87.10.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts predict that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is presently 12.75%.

Insider Transactions at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now 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. Insiders have sold a total of 197,895 shares of company stock valued at $14,261,051 over the last ninety days. Corporate 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.