Atom Investors LP Sells 26,986 Shares of Fortive Co. (NYSE:FTV)

Atom Investors LP trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 18.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,758 shares of the technology company’s stock after selling 26,986 shares during the quarter. Fortive comprises 1.0% of Atom Investors LP’s portfolio, making the stock its 9th biggest holding. Atom Investors LP’s holdings in Fortive were worth $9,531,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC increased its position in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after buying an additional 135 shares during the last quarter. RDA Financial Network increased its position in Fortive by 3.4% during the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after buying an additional 138 shares during the last quarter. QRG Capital Management Inc. increased its position 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 buying an additional 146 shares during the last quarter. Andina Capital Management LLC grew its position in shares of Fortive by 3.4% in the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock valued at $328,000 after purchasing an additional 147 shares during the last quarter. Finally, Patton Albertson Miller Group LLC grew its position in shares of Fortive by 1.7% in the third quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock valued at $699,000 after purchasing an additional 150 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 17.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Peter C. Underwood sold 5,000 shares of Fortive stock in a transaction that occurred on Monday, November 11th. The shares were 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. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock worth $14,261,051 over the last quarter. Company insiders own 1.01% of the company’s stock.

Fortive Stock Down 0.1 %

Shares of FTV opened at $79.33 on Monday. The stock has a market cap of $27.52 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 2.18 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. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a 50-day moving average price of $76.23 and a two-hundred day moving average price of $74.22.

Fortive (NYSE:FTV) last announced its quarterly earnings results 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Equities analysts predict that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Announces Dividend

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 paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s dividend payout ratio is 12.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FTV shares. Morgan Stanley started coverage on Fortive in a research report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target on the stock. UBS Group started coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target on the stock. JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and raised their price target for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Barclays lowered 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. Finally, StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

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.