Pitcairn Co. Has $770,000 Stake in Fortive Co. (NYSE:FTV)

Pitcairn Co. cut its stake in shares of Fortive Co. (NYSE:FTV) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,753 shares of the technology company’s stock after selling 1,450 shares during the period. Pitcairn Co.’s holdings in Fortive were worth $770,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Fortive during the third quarter worth about $25,000. Ridgewood Investments LLC bought a new stake in shares of Fortive during the 2nd quarter worth $30,000. International Assets Investment Management LLC purchased a new position in shares of Fortive in the 2nd quarter worth about $30,000. Goodman Advisory Group LLC purchased a new position in shares of Fortive in the 2nd quarter worth about $31,000. Finally, Advisors Asset Management Inc. bought a new position in Fortive during the first quarter valued at about $32,000. Institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 1.9 %

FTV opened at $78.42 on Monday. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The stock has a market cap of $27.21 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The firm’s fifty day moving average is $75.85 and its 200 day moving average is $74.14.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. Fortive’s dividend payout ratio is currently 12.75%.

Insiders Place Their Bets

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The trade was a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock valued at $14,261,051 in the last three months. Corporate insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James raised shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Thursday, September 5th. Barclays dropped their price target on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Argus reaffirmed a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Finally, Royal Bank of Canada dropped their target price 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. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Fortive has a consensus rating of “Moderate Buy” and an average target price of $87.82.

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.