SG Americas Securities LLC Cuts Stake in Fortive Co. (NYSE:FTV)

SG Americas Securities LLC lowered its position in shares of Fortive Co. (NYSE:FTVGet Rating) by 25.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,944 shares of the technology company’s stock after selling 3,764 shares during the period. SG Americas Securities LLC’s holdings in Fortive were worth $638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FTV. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Fortive in the second quarter worth about $27,000. Core Alternative Capital lifted its holdings in Fortive by 98.2% in the third quarter. Core Alternative Capital now owns 555 shares of the technology company’s stock valued at $32,000 after acquiring an additional 275 shares during the period. Clear Street Markets LLC lifted its holdings in Fortive by 197.2% in the second quarter. Clear Street Markets LLC now owns 749 shares of the technology company’s stock valued at $41,000 after acquiring an additional 497 shares during the period. Parkwood LLC purchased a new stake in shares of Fortive in the second quarter valued at approximately $42,000. Finally, Covestor Ltd increased its position in shares of Fortive by 34.7% during the first quarter. Covestor Ltd now owns 773 shares of the technology company’s stock worth $47,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Transactions at Fortive

In related news, CEO Patrick K. Murphy sold 32,788 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $68.56, for a total value of $2,247,945.28. Following the completion of the sale, the chief executive officer now owns 62,929 shares of the company’s stock, valued at $4,314,412.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Charles E. Mclaughlin sold 13,156 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $68.44, for a total value of $900,396.64. Following the sale, the chief financial officer now directly owns 88,818 shares of the company’s stock, valued at approximately $6,078,703.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick K. Murphy sold 32,788 shares of Fortive stock in a transaction on Friday, November 11th. The shares were sold at an average price of $68.56, for a total transaction of $2,247,945.28. Following the completion of the sale, the chief executive officer now owns 62,929 shares in the company, valued at $4,314,412.24. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Fortive Price Performance

Shares of NYSE:FTV opened at $65.45 on Friday. Fortive Co. has a 12-month low of $52.47 and a 12-month high of $72.15. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market cap of $23.16 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.12. The company’s fifty day moving average is $65.99 and its two-hundred day moving average is $63.58.

Fortive (NYSE:FTVGet Rating) last posted its earnings results on Wednesday, October 26th. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.44 billion. Fortive had a net margin of 12.22% and a return on equity of 11.69%. Equities analysts expect that Fortive Co. will post 3.12 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, November 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.43%. The ex-dividend date was Tuesday, November 29th. Fortive’s dividend payout ratio (DPR) is presently 14.66%.

Wall Street Analyst Weigh In

FTV has been the topic of several recent analyst reports. Credit Suisse Group decreased their price target on Fortive from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Wells Fargo & Company raised their price target on Fortive from $67.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday. Mizuho increased their price objective on Fortive from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, January 13th. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. Finally, Morgan Stanley raised their price objective on Fortive from $73.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus target price of $73.85.

Fortive Profile

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Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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