Fortive Co. (NYSE:FTV) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its stake in shares of Fortive Co. (NYSE:FTV) by 4.7% during the 3rd quarter, according to the company in its most recent 13F 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 also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of Fortive during the first quarter valued at approximately $32,000. Ridgewood Investments LLC bought a new position in Fortive during the 2nd quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in shares of Fortive during the 2nd quarter valued at $30,000. Goodman Advisory Group LLC bought a new stake in shares of Fortive in the 2nd quarter worth $31,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Fortive by 71.0% in the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock valued at $33,000 after buying an additional 176 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Fortive Stock Up 4.1 %

NYSE:FTV opened at $74.29 on Thursday. Fortive Co. has a 1-year low of $64.69 and a 1-year high of $87.10. The firm has a market capitalization of $25.77 billion, a price-to-earnings ratio of 29.60, a PEG 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. The business’s fifty day moving average price is $75.20 and its 200 day moving average price is $74.27.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating 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 firm 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 posted $0.85 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 0.43%. Fortive’s payout ratio is 12.75%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FTV. Mizuho raised Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Barclays lowered their price objective on shares of Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Truist Financial cut their target price on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company dropped their price target on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley assumed coverage on Fortive in a research note on Friday, September 6th. They set an “overweight” rating and a $89.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Fortive currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.20.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction dated Friday, November 1st. The stock was 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 directly owns 42,651 shares in the company, valued at $3,058,503.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Stacey A. Walker sold 171,808 shares of the firm’s 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 transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s 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 directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,895 shares of company stock worth $13,878,151 over the last 90 days. 1.01% of the stock is currently owned by corporate insiders.

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.