Brown Shipley& Co Ltd Has $4.27 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Brown Shipley& Co Ltd decreased its position in Fortive Co. (NYSE:FTV) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,123 shares of the technology company’s stock after selling 2,051 shares during the period. Fortive comprises approximately 2.1% of Brown Shipley& Co Ltd’s holdings, making the stock its 17th largest holding. Brown Shipley& Co Ltd’s holdings in Fortive were worth $4,272,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC raised its stake in shares of Fortive by 3.6% in the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock valued at $308,000 after purchasing an additional 135 shares in the last quarter. RDA Financial Network increased its holdings in Fortive by 3.4% in the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock valued at $311,000 after buying an additional 138 shares during the period. QRG Capital Management Inc. raised its stake in shares of Fortive by 0.8% in the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after buying an additional 146 shares in the last quarter. Andina Capital Management LLC lifted its holdings in shares of Fortive by 3.4% during the 2nd quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company’s stock worth $328,000 after acquiring an additional 147 shares during the period. Finally, Patton Albertson Miller Group LLC lifted its holdings in shares of Fortive by 1.7% during the 3rd quarter. Patton Albertson Miller Group LLC now owns 8,854 shares of the technology company’s stock worth $699,000 after acquiring an additional 150 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,895 shares of company stock valued at $14,261,051. Company insiders own 1.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FTV. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Truist Financial dropped their target price on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Barclays decreased their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Finally, UBS Group started coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Fortive has an average rating of “Moderate Buy” and an average target price of $87.82.

Fortive Stock Performance

Fortive stock opened at $79.40 on Thursday. The stock has a 50-day simple moving average of $76.13 and a 200 day simple moving average of $74.21. The stock has a market capitalization of $27.55 billion, a price-to-earnings ratio of 31.63, a P/E/G ratio of 2.19 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.

Fortive (NYSE:FTV) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping 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 company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s payout ratio is 12.75%.

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.