Fortive Co. (NYSE:FTV) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its stake in shares of Fortive Co. (NYSE:FTV) by 69.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,580 shares of the technology company’s stock after selling 10,172 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Fortive were worth $361,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FTV. Capital Performance Advisors LLP acquired a new stake in shares of Fortive during the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new stake in Fortive in the second quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new stake in Fortive in the second quarter valued at approximately $30,000. Goodman Advisory Group LLC purchased a new stake in shares of Fortive in the second quarter valued at approximately $31,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Fortive during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the 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 of the company’s stock, 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 filing with the SEC, which is available through the SEC website. Also, SVP Peter C. Underwood sold 5,000 shares of the business’s 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 sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. This trade represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,895 shares of company stock worth $14,261,051. Insiders own 1.01% of the company’s stock.

Fortive Stock Up 1.9 %

Shares of NYSE:FTV opened at $78.42 on Friday. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $87.10. The stock has a market cap of $27.21 billion, a P/E ratio of 31.24, a PEG ratio of 2.05 and a beta of 1.13. The business has a fifty day moving average of $75.85 and a two-hundred day moving average of $74.18. 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 (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Fortive’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts expect that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Fortive’s payout ratio is presently 12.75%.

Analyst Ratings Changes

Several equities research analysts recently commented on FTV shares. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Thursday, September 5th. Royal Bank of Canada reduced their price target on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company decreased their target price on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.