VeraBank N.A. Sells 875 Shares of Fortive Co. (NYSE:FTV)

VeraBank N.A. cut its stake in Fortive Co. (NYSE:FTV) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,910 shares of the technology company’s stock after selling 875 shares during the period. VeraBank N.A.’s holdings in Fortive were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the 1st quarter worth approximately $32,000. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 42,651 shares in the company, valued at $3,058,503.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,895 shares of company stock valued at $13,878,151 over the last 90 days. 1.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FTV shares. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays decreased their price objective 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. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $90.00 in a report on Friday, September 6th. Royal Bank of Canada decreased their price objective on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, Raymond James upgraded shares of 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. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.20.

Fortive Stock Up 1.6 %

FTV traded up $1.19 during trading on Friday, reaching $75.20. The company had a trading volume of 3,757,172 shares, compared to its average volume of 2,740,990. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. Fortive Co. has a 12 month low of $64.99 and a 12 month high of $87.10. The business’s fifty day moving average price is $75.22 and its 200 day moving average price is $74.23. The company has a market cap of $26.09 billion, a P/E ratio of 29.96, a PEG ratio of 2.04 and a beta of 1.13.

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

Fortive Dividend Announcement

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

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.