Toronto Dominion Bank Has $14.07 Million Stake in Fortive Co. (NYSE:FTV)

Toronto Dominion Bank boosted its holdings in Fortive Co. (NYSE:FTV) by 48.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,199 shares of the technology company’s stock after purchasing an additional 57,971 shares during the period. Toronto Dominion Bank’s holdings in Fortive were worth $14,065,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Fortive in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new position in Fortive during the second quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new position in Fortive in the second quarter valued at approximately $30,000. Goodman Advisory Group LLC acquired a new position in shares of Fortive during the 2nd quarter worth approximately $31,000. Finally, Pinnacle Bancorp Inc. raised its stake in shares of Fortive by 71.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after purchasing an additional 176 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley assumed 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. Citigroup lowered shares of Fortive from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. Wells Fargo & Company cut their target price 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. Truist Financial lowered their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, UBS Group initiated coverage on Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.73.

Fortive Price Performance

Shares of NYSE FTV opened at $76.85 on Friday. The business’s 50 day moving average is $76.39 and its 200-day moving average is $74.37. The firm has a market cap of $26.66 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV) last posted 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. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Equities research analysts predict that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 0.42%. Fortive’s payout ratio is presently 12.75%.

Insider Transactions at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. This represents a 80.11 % 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 Fortive stock in a transaction on Monday, November 11th. The shares were sold at an average price of $76.58, for a total value of $382,900.00. Following the completion of the transaction, the senior vice president now directly owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.01% of the company’s stock.

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.