Fortive Co. (NYSE:FTV) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC lowered its holdings in Fortive Co. (NYSE:FTV) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,776,726 shares of the technology company’s stock after selling 106,690 shares during the quarter. Fortive accounts for about 2.3% of Champlain Investment Partners LLC’s investment portfolio, making the stock its 2nd largest position. Champlain Investment Partners LLC owned about 1.38% of Fortive worth $377,027,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FTV. Capital Performance Advisors LLP bought a new stake in shares of Fortive in the third quarter valued at about $25,000. Ridgewood Investments LLC bought a new stake in shares of Fortive in the 2nd quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Fortive in the 2nd quarter worth approximately $30,000. Goodman Advisory Group LLC acquired a new stake in shares of Fortive during the 2nd quarter worth approximately $31,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Fortive during the first quarter valued at approximately $32,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FTV shares. Argus reiterated a “hold” rating on shares of Fortive in a research note on Monday, November 18th. Wolfe Research cut shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Truist Financial cut their price target on shares of Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Thursday, September 5th. Finally, StockNews.com upgraded Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.82.

Fortive Trading Up 1.9 %

FTV opened at $78.42 on Friday. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The firm has a 50-day moving average price of $75.85 and a two-hundred day moving average price of $74.18. The stock has a market capitalization of $27.21 billion, a PE ratio of 31.24, a PEG ratio of 2.11 and a beta of 1.13. 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 issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. As a group, equities analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 0.41%. Fortive’s payout ratio is 12.75%.

Insiders Place Their Bets

In other news, SVP Peter C. Underwood sold 5,000 shares of the stock in a transaction 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 transaction, the senior vice president now owns 48,346 shares of the company’s stock, valued at $3,702,336.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction 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 of the company’s stock, valued at approximately $5,433,135.73. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 197,895 shares of company stock valued at $14,261,051. 1.01% of the stock is currently owned by insiders.

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.