Rehmann Capital Advisory Group Has $722,000 Position in Fortive Co. (NYSE:FTV)

Rehmann Capital Advisory Group lowered its holdings in Fortive Co. (NYSE:FTV) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,012 shares of the technology company’s stock after selling 210 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Fortive were worth $722,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Mizuho Securities USA LLC lifted its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after acquiring an additional 3,972,855 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Fortive by 1,005.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company’s stock valued at $152,899,000 after acquiring an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company’s stock valued at $634,701,000 after acquiring an additional 977,428 shares in the last quarter. Holocene Advisors LP lifted its stake in Fortive by 1,014.1% during the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company’s stock valued at $72,984,000 after acquiring an additional 841,671 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Fortive by 59.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company’s stock valued at $107,271,000 after acquiring an additional 505,882 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Trading Down 1.9 %

Shares of Fortive stock opened at $76.83 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The stock’s 50-day simple moving average is $76.39 and its 200 day simple moving average is $74.34. The stock has a market capitalization of $26.66 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.17 and a beta of 1.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the business posted $0.85 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Fortive Co. will post 3.85 EPS for the current year.

Fortive Dividend Announcement

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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, November 29th. Fortive’s dividend payout ratio is currently 12.75%.

Analysts Set New Price Targets

FTV has been the topic of several recent analyst reports. UBS Group initiated coverage on Fortive in a research note on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Citigroup cut Fortive from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $86.00 in a research note on Monday. Argus reiterated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wolfe Research cut Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Mizuho upgraded 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 research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.73.

Insider Activity at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by company insiders.

Fortive 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.