Fortive Corp (FTV) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can decreased its holdings in shares of Fortive Corp (NYSE:FTV) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,602 shares of the technology company’s stock after selling 24,819 shares during the quarter. Great West Life Assurance Co. Can owned 0.06% of Fortive worth $16,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FTV. Fort L.P. acquired a new position in Fortive during the second quarter worth about $122,000. Stratos Wealth Partners LTD. acquired a new position in Fortive during the third quarter worth about $127,000. Flagship Harbor Advisors LLC acquired a new position in Fortive during the second quarter worth about $132,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Fortive by 5,816.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,775 shares of the technology company’s stock worth $137,000 after acquiring an additional 1,745 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Fortive during the second quarter worth about $203,000.

In related news, VP Emily A. Weaver sold 9,271 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $75.41, for a total value of $699,126.11. Following the sale, the vice president now directly owns 9,279 shares in the company, valued at $699,729.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James A. Lico sold 123,298 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $75.41, for a total value of $9,297,902.18. Following the completion of the sale, the insider now owns 357,460 shares in the company, valued at $26,956,058.60. The disclosure for this sale can be found here. Insiders sold 142,382 shares of company stock valued at $10,729,598 in the last ninety days. 12.20% of the stock is currently owned by insiders.

Several brokerages have commented on FTV. Royal Bank of Canada reissued a “hold” rating and set a $74.00 target price on shares of Fortive in a research note on Wednesday, November 21st. Morgan Stanley lowered their price objective on Fortive from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Tuesday, October 30th. Argus upped their price objective on Fortive from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. Credit Suisse Group lowered their price objective on Fortive from $89.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Finally, Gordon Haskett assumed coverage on Fortive in a research note on Friday, October 12th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $86.73.

Fortive stock opened at $75.96 on Tuesday. Fortive Corp has a 1 year low of $69.03 and a 1 year high of $88.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.98 and a quick ratio of 0.79. The company has a market capitalization of $25.40 billion, a PE ratio of 22.57, a PEG ratio of 2.11 and a beta of 0.98.

Fortive (NYSE:FTV) last released its quarterly earnings data on Thursday, October 25th. The technology company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Fortive had a net margin of 15.72% and a return on equity of 24.91%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.86 billion. On average, sell-side analysts predict that Fortive Corp will post 3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 29th. Fortive’s dividend payout ratio is currently 9.69%.

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Fortive Profile

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and maintenance management software for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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