Tandem Capital Management Corp ADV Reduces Position in Fortive Co. (NYSE:FTV)

Tandem Capital Management Corp ADV decreased its holdings in Fortive Co. (NYSE:FTV) by 5.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 26,669 shares of the technology company’s stock after selling 1,587 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Fortive were worth $2,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTV. Advisors Asset Management Inc. bought a new stake in shares of Fortive in the 1st quarter valued at approximately $32,000. Ridgewood Investments LLC acquired a new position in Fortive in the second quarter worth $30,000. International Assets Investment Management LLC bought a new stake in Fortive during the second quarter valued at $30,000. Goodman Advisory Group LLC bought a new stake in Fortive during the second quarter valued at $31,000. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FTV shares. Wells Fargo & Company boosted their price objective on shares of Fortive from $75.00 to $82.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. TD Cowen upgraded Fortive from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $90.00 to $92.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fortive has an average rating of “Moderate Buy” and a consensus price target of $89.10.

Insider Activity at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This 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 through this link. Also, 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 value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is owned by insiders.

Fortive Stock Performance

NYSE:FTV opened at $72.08 on Thursday. The firm has a market capitalization of $25.37 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12-month low of $64.44 and a 12-month high of $87.10. The firm has a 50-day moving average price of $75.33 and a 200 day moving average price of $74.57.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Fortive’s payout ratio is presently 12.65%.

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.