Fortive Co. (NYSE:FTV) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its stake in shares of Fortive Co. (NYSE:FTV) by 41.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,427 shares of the technology company’s stock after selling 1,719 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Fortive were worth $192,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FTV. Advisors Asset Management Inc. acquired a new stake in Fortive during the 1st quarter worth about $32,000. Silvercrest Asset Management Group LLC grew its position in shares of Fortive by 30.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 9,559 shares of the technology company’s stock valued at $822,000 after acquiring an additional 2,250 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Fortive by 18.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,628 shares of the technology company’s stock valued at $312,000 after acquiring an additional 557 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of Fortive during the 1st quarter valued at about $231,000. Finally, Wahed Invest LLC grew its position in shares of Fortive by 15.0% during the 1st quarter. Wahed Invest LLC now owns 6,936 shares of the technology company’s stock valued at $597,000 after acquiring an additional 903 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction 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 $3,058,503.21. This trade represents a 80.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is currently owned by company insiders.

Fortive Trading Up 0.6 %

FTV opened at $79.40 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The company’s 50 day simple moving average is $76.13 and its two-hundred day simple moving average is $74.21. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The firm has a market capitalization of $27.55 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.13.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for 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 business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Analysts expect that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is presently 12.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on Fortive in a research report on Friday, September 6th. They set an “overweight” rating and a $89.00 target price on the stock. Royal Bank of Canada dropped their target price on Fortive from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, Truist Financial decreased their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus target price 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.