Mountain Pacific Investment Advisers Inc. ID Has $20.92 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Mountain Pacific Investment Advisers Inc. ID lowered its position in Fortive Co. (NYSE:FTV) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 284,143 shares of the technology company’s stock after selling 1,544 shares during the period. Fortive accounts for approximately 1.3% of Mountain Pacific Investment Advisers Inc. ID’s portfolio, making the stock its 29th largest position. Mountain Pacific Investment Advisers Inc. ID’s holdings in Fortive were worth $20,921,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FTV. CWM LLC lifted its stake in Fortive by 7.7% in the third quarter. CWM LLC now owns 5,857 shares of the technology company’s stock valued at $434,000 after buying an additional 417 shares during the period. AE Wealth Management LLC boosted its position in shares of Fortive by 723.0% during the 3rd quarter. AE Wealth Management LLC now owns 23,266 shares of the technology company’s stock worth $1,725,000 after purchasing an additional 20,439 shares in the last quarter. Caprock Group LLC grew its stake in shares of Fortive by 5.2% in the 3rd quarter. Caprock Group LLC now owns 6,499 shares of the technology company’s stock valued at $482,000 after buying an additional 324 shares during the period. Coronation Fund Managers Ltd. raised its stake in Fortive by 22.5% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 29,395 shares of the technology company’s stock worth $2,180,000 after buying an additional 5,390 shares during the period. Finally, Advisory Alpha LLC bought a new position in Fortive in the third quarter worth approximately $267,000. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FTV has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of Fortive from $101.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada dropped their target price on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday. Truist Financial assumed coverage on Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Fortive from $92.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Barclays boosted their price target on shares of Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.46.

Fortive Price Performance

Shares of NYSE FTV opened at $75.97 on Friday. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The stock has a fifty day simple moving average of $83.83 and a two-hundred day simple moving average of $76.13. The company has a current ratio of 1.50, a quick ratio of 1.75 and a debt-to-equity ratio of 0.38. Fortive Co. has a 1-year low of $62.77 and a 1-year high of $87.10.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Analysts anticipate that Fortive Co. will post 3.79 earnings per share for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio is currently 12.65%.

Insider Transactions at Fortive

In other news, SVP Stacey A. Walker sold 9,106 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total transaction of $787,669.00. Following the sale, the senior vice president now directly owns 36,558 shares in the company, valued at $3,162,267. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Charles E. Mclaughlin sold 40,837 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.28, for a total value of $3,523,416.36. Following the transaction, the chief financial officer now owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $86.50, for a total value of $787,669.00. Following the transaction, the senior vice president now owns 36,558 shares of the company’s stock, valued at $3,162,267. The disclosure for this sale can be found here. Insiders sold 63,937 shares of company stock valued at $5,475,122 over the last three months. Company insiders own 0.95% of the company’s stock.

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.