TCTC Holdings LLC Trims Stock Holdings in Fortive Co. (NYSE:FTV)

TCTC Holdings LLC cut its holdings in shares of Fortive Co. (NYSE:FTV) by 14.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,611 shares of the technology company’s stock after selling 279 shares during the quarter. TCTC Holdings LLC’s holdings in Fortive were worth $127,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Private Advisor Group LLC increased its holdings in 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 increased its holdings in shares of Fortive by 3.4% in the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after acquiring an additional 138 shares during the last quarter. Pitcairn Co. raised its position in shares of Fortive by 1.3% during 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 in the last quarter. QRG Capital Management Inc. lifted its stake in Fortive by 0.8% during the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC boosted its holdings in Fortive by 3.4% in the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after purchasing an additional 147 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Fortive Stock Performance

Shares of FTV opened at $75.20 on Friday. The firm has a market capitalization of $26.09 billion, a PE ratio of 29.96, a P/E/G ratio of 2.04 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $75.22 and a 200 day moving average price of $74.23. Fortive Co. has a 52-week low of $64.99 and a 52-week high of $87.10.

Fortive (NYSE:FTV) last posted 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. 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 for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. On average, sell-side analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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

Insider Activity

In related 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 completion of 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 at the SEC website. 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 stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 192,895 shares of company stock worth $13,878,151. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FTV has been the topic of a number of recent research reports. Morgan Stanley started coverage on shares of Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target on the stock. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Barclays dropped their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Raymond James raised 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.