Bank of Montreal Can Sells 85,528 Shares of Fortive Co. (NYSE:FTV)

Bank of Montreal Can cut its stake in Fortive Co. (NYSE:FTV) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,110 shares of the technology company’s stock after selling 85,528 shares during the period. Bank of Montreal Can owned approximately 0.09% of Fortive worth $23,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lipe & Dalton grew its position in Fortive by 1.9% during the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after buying an additional 130 shares in the last quarter. RDA Financial Network grew its holdings in shares of Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after purchasing an additional 138 shares in the last quarter. Pitcairn Co. increased its position in shares of Fortive by 1.3% during the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after purchasing an additional 139 shares during the period. QRG Capital Management Inc. raised its stake in shares of Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after purchasing an additional 146 shares in the last quarter. Finally, Andina Capital Management LLC raised its stake 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 in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FTV shares. Mizuho raised shares of Fortive from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $90.00 in a report on Friday, September 6th. TD Cowen raised Fortive from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $90.00 in a report on Monday, July 8th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price target on shares of Fortive in a research note on Friday, September 6th. Finally, Wells Fargo & Company dropped their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Fortive presently has a consensus rating of “Moderate Buy” and an average target price of $86.38.

Fortive Trading Up 0.8 %

NYSE:FTV opened at $79.18 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 0.32. Fortive Co. has a 1-year low of $63.05 and a 1-year high of $87.10. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 2.22 and a beta of 1.11. The business’s 50-day moving average price is $72.39 and its two-hundred day moving average price is $76.02.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm earned $0.85 EPS. Fortive’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts expect that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, September 13th. Fortive’s dividend payout ratio (DPR) is 12.65%.

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.