Quantitative Systematic Strategies LLC Reduces Holdings in Fortive Co. (NYSE:FTV)

Quantitative Systematic Strategies LLC trimmed its position in shares of Fortive Co. (NYSE:FTV) by 28.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,683 shares of the technology company’s stock after selling 10,688 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Fortive were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FTV. Alps Advisors Inc. boosted its stake in Fortive by 7,840.1% during the third quarter. Alps Advisors Inc. now owns 1,326,000 shares of the technology company’s stock worth $1,130,000 after buying an additional 1,309,300 shares during the period. Jennison Associates LLC purchased a new stake in shares of Fortive during the third quarter valued at $48,931,000. Bank of New York Mellon Corp boosted its stake in shares of Fortive by 22.5% during the second quarter. Bank of New York Mellon Corp now owns 2,629,774 shares of the technology company’s stock valued at $177,930,000 after purchasing an additional 483,220 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of Fortive by 61.7% during the second quarter. Alyeska Investment Group L.P. now owns 925,930 shares of the technology company’s stock valued at $62,648,000 after purchasing an additional 353,483 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Fortive by 25.8% during the third quarter. Blair William & Co. IL now owns 1,619,229 shares of the technology company’s stock valued at $123,401,000 after purchasing an additional 331,644 shares during the period. 86.33% of the stock is owned by institutional investors.

In other news, VP Jonathan L. Schwarz sold 15,924 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $61.48, for a total transaction of $979,007.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James A. Lico sold 261,419 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $61.43, for a total transaction of $16,058,969.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,282,992 shares of company stock worth $371,786,520. Corporate insiders own 12.60% of the company’s stock.

Fortive stock traded up $0.16 during trading hours on Monday, reaching $71.11. The stock had a trading volume of 37,987 shares, compared to its average volume of 2,578,752. The company has a market cap of $23.92 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 3.67 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.02. The business’s 50 day moving average price is $69.54 and its 200-day moving average price is $68.54. Fortive Co. has a 52 week low of $37.31 and a 52 week high of $82.12.

Fortive (NYSE:FTV) last announced its earnings results on Tuesday, October 27th. The technology company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.92 billion. Fortive had a net margin of 8.21% and a return on equity of 16.30%. On average, sell-side analysts forecast that Fortive Co. will post 3.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, November 27th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.28 annualized dividend and a dividend yield of 0.39%. Fortive’s dividend payout ratio (DPR) is currently 8.05%.

A number of brokerages have recently issued reports on FTV. Bank of America boosted their target price on shares of Fortive from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. TheStreet raised shares of Fortive from a “c+” rating to a “b” rating in a research note on Thursday, November 5th. Citigroup upped their price objective on shares of Fortive from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Morgan Stanley lowered their price objective on shares of Fortive from $75.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Finally, Zacks Investment Research lowered shares of Fortive from a “buy” rating to a “hold” rating and set a $80.00 price objective for the company. in a research note on Wednesday, September 30th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $78.69.

About Fortive

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 software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, facilities management, public safety, mining, and healthcare applications, as well as environmental, health, and safety applications.

Further Reading: Are we seeing the beginning of a new bubble?

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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