State Street Corp Has $1.10 Billion Holdings in Fortive Co. (NYSE:FTV)

State Street Corp grew its holdings in Fortive Co. (NYSE:FTV) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,899,976 shares of the technology company’s stock after purchasing an additional 30,949 shares during the quarter. State Street Corp’s holdings in Fortive were worth $1,097,125,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Fortive during the 3rd quarter worth about $25,000. Ridgewood Investments LLC acquired a new position in Fortive in 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 bought a new stake in shares of Fortive during the 2nd quarter valued at $31,000. Finally, Pinnacle Bancorp Inc. boosted its holdings in Fortive by 71.0% during the third quarter. Pinnacle Bancorp Inc. now owns 424 shares of the technology company’s stock worth $33,000 after buying an additional 176 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Fortive Price Performance

Shares of FTV opened at $78.89 on Friday. The company has a market capitalization of $27.37 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.16 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 debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The business has a 50-day moving average of $76.37 and a 200-day moving average of $74.30.

Fortive (NYSE:FTV) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s payout ratio is presently 12.75%.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. The trade was a 17.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock worth $14,261,051 over the last quarter. 1.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group began coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 price target on the stock. Raymond James raised Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Thursday, September 5th. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 6th. Morgan Stanley assumed coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price target for the company. Finally, StockNews.com raised shares of 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.82.

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.