Fortive Corporation $FTV Stock Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its position in shares of Fortive Corporation (NYSE:FTV) by 9.6% in the third quarter, Holdings Channel.com reports. The firm owned 427,271 shares of the technology company’s stock after purchasing an additional 37,327 shares during the period. Candriam S.C.A.’s holdings in Fortive were worth $23,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FTV. BlackRock Inc. acquired a new position in Fortive in the 2nd quarter worth about $1,626,463,000. Flossbach Von Storch SE purchased a new stake in shares of Fortive during the 2nd quarter worth about $739,668,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Fortive during the 2nd quarter valued at about $527,526,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Fortive during the 2nd quarter valued at about $211,807,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Fortive during the 2nd quarter valued at about $115,914,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Fortive

In related news, CAO Christopher Mulhall sold 17,962 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $65.56, for a total value of $1,177,588.72. Following the transaction, the chief accounting officer directly owned 44,598 shares of the company’s stock, valued at approximately $2,923,844.88. This trade represents a 28.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter C. Underwood sold 48,442 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $64.60, for a total value of $3,129,353.20. Following the sale, the senior vice president directly owned 79,118 shares of the company’s stock, valued at $5,111,022.80. The trade was a 37.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 74,497 shares of company stock worth $4,837,600. 0.65% of the stock is currently owned by insiders.

Fortive Trading Down 0.0%

Fortive stock opened at $65.37 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.23 and a quick ratio of 0.98. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.62 and a beta of 1.03. Fortive Corporation has a one year low of $49.99 and a one year high of $68.94. The company’s fifty day moving average price is $58.42 and its two-hundred day moving average price is $58.94.

Fortive (NYSE:FTV) last posted its earnings results on Wednesday, October 28th. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Fortive had a return on equity of 15.79% and a net margin of 14.83%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that Fortive Corporation will post 3.12 earnings per share for the current fiscal year.

Fortive Dividend Announcement

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 of this dividend is Friday, November 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.4%. Fortive’s dividend payout ratio is currently 13.33%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FTV shares. Mizuho set a $55.00 price target on Fortive in a research note on Thursday, October 29th. Truist Financial reaffirmed a “hold” rating and set a $65.00 price objective (up from $63.00) on shares of Fortive in a research report on Thursday, October 29th. Royal Bank Of Canada lifted their target price on shares of Fortive from $59.00 to $68.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Weiss Ratings upgraded shares of Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. Finally, Evercore initiated coverage on shares of Fortive in a research report on Monday, September 28th. They issued a “hold” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Fortive has an average rating of “Reduce” and a consensus price target of $64.36.

Fortive Profile

Fortive is a global technology company that develops products and software for industrial, infrastructure and healthcare customers. Its businesses focus on helping organizations improve the safety, reliability and efficiency of their operations.

Fortive’s offerings include electronic test and measurement tools, industrial safety and gas-detection systems, and software for managing facilities, assets and construction projects. Its portfolio includes brands such as Fluke, Industrial Scientific, Gordian, Accruent and Provation.

Fortive was formed in 2016 through a spin-off from Danaher.