Brown Shipley& Co Ltd Sells 15,181 Shares of Fortive Corporation $FTV

Brown Shipley& Co Ltd reduced its stake in Fortive Corporation (NYSE:FTV) by 93.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,051 shares of the technology company’s stock after selling 15,181 shares during the quarter. Brown Shipley& Co Ltd’s holdings in Fortive were worth $51,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. grew its holdings in Fortive by 6.8% during the second quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock valued at $18,494,000 after purchasing an additional 22,443 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Fortive by 56.2% in the third quarter. Assenagon Asset Management S.A. now owns 77,550 shares of the technology company’s stock valued at $3,799,000 after buying an additional 27,908 shares during the period. Voya Investment Management LLC lifted its position in shares of Fortive by 14.0% during the 3rd quarter. Voya Investment Management LLC now owns 507,055 shares of the technology company’s stock valued at $24,841,000 after buying an additional 62,127 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Fortive by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock worth $2,054,644,000 after acquiring an additional 839,321 shares during the period. Finally, State Street Corp grew its stake in shares of Fortive by 0.7% during the 2nd quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock worth $738,013,000 after acquiring an additional 92,222 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Performance

Fortive stock opened at $56.15 on Tuesday. Fortive Corporation has a 1-year low of $46.34 and a 1-year high of $83.32. The company has a current ratio of 0.70, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $17.83 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 3.35 and a beta of 1.13. The firm’s 50 day simple moving average is $52.57 and its 200 day simple moving average is $52.09.

Fortive (NYSE:FTV) last released its quarterly earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. The firm had revenue of $1.07 billion during the quarter. Fortive had a net margin of 11.72% and a return on equity of 12.04%. As a group, analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, November 28th. Fortive’s payout ratio is presently 13.71%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup boosted their price objective on Fortive from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. boosted their price target on shares of Fortive from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Mizuho dropped their price target on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Robert W. Baird lifted their price objective on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Barclays boosted their target price on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of “Hold” and an average target price of $57.85.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $50.35, for a total value of $110,367.20. Following the sale, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.92% of the stock is owned by corporate insiders.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin‑off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin‑off of Vontier, concentrating Fortive’s activities on higher‑margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software‑enabled solutions, and lifecycle services that support industrial and commercial customers.