Oppenheimer & Co. Inc. Sells 276 Shares of Fortive Co. (NYSE:FTV)

Oppenheimer & Co. Inc. lessened its position in shares of Fortive Co. (NYSE:FTV) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 26,551 shares of the technology company’s stock after selling 276 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fortive were worth $2,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners grew its holdings in shares of Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after buying an additional 1,045,245 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after purchasing an additional 1,999,792 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock worth $197,726,000 after purchasing an additional 205,893 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of Fortive by 6.8% in the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after purchasing an additional 168,368 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Fortive by 3.8% during the second quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after purchasing an additional 94,170 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. upgraded Fortive from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. Truist Financial decreased their price target on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company dropped their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Morgan Stanley began coverage on shares of Fortive in a research note on Friday, September 6th. They issued an “overweight” rating and a $89.00 target price for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Fortive presently has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Fortive Price Performance

NYSE:FTV opened at $74.82 on Friday. The company has a market cap of $25.96 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.09 and a beta of 1.13. The firm’s fifty day moving average price is $75.53 and its two-hundred day moving average price is $74.18. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. Equities 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. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Insider Buying and Selling at Fortive

In related news, SVP Peter C. Underwood sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value 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 approximately $3,702,336.68. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction that occurred on 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 in the company, valued at $5,433,135.73. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,895 shares of company stock valued at $14,261,051 in the last ninety days. 1.01% of the stock is currently owned by corporate insiders.

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.