Fortive Co. (NYSE:FTV) Shares Purchased by Huntington National Bank

Huntington National Bank raised its position in Fortive Co. (NYSE:FTV) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,148 shares of the technology company’s stock after acquiring an additional 210 shares during the quarter. Huntington National Bank’s holdings in Fortive were worth $564,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FTV. Boston Partners boosted its stake in shares of Fortive by 19.3% in the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after purchasing an additional 1,045,245 shares during the period. Janus Henderson Group PLC lifted its holdings in Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after buying an additional 1,999,792 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fortive by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares during the last quarter. Select Equity Group L.P. grew its stake in shares of Fortive by 6.8% during the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock valued at $195,721,000 after acquiring an additional 168,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Fortive by 3.8% during the second quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after acquiring an additional 94,170 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Down 1.0 %

Shares of Fortive stock opened at $74.82 on Friday. Fortive Co. has a twelve month low of $66.15 and a twelve month high of $87.10. The stock has a market capitalization of $25.96 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.09 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 50 day simple moving average is $75.53 and its 200-day simple moving average is $74.18.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley initiated 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. UBS Group initiated coverage on shares of Fortive in a research note on Wednesday. They issued a “neutral” rating and a $84.00 price target for the company. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Truist Financial decreased their price objective on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and upped their target price for the company from $80.00 to $90.00 in a research note on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Insider Buying and Selling at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. This represents a 17.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. The trade was a 8.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is 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.