Berkshire Bank Sells 185 Shares of Fortive Co. (NYSE:FTV)

Berkshire Bank cut its holdings in Fortive Co. (NYSE:FTV) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,525 shares of the technology company’s stock after selling 185 shares during the quarter. Berkshire Bank’s holdings in Fortive were worth $1,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkwood LLC bought a new stake in shares of Fortive in the second quarter worth about $3,985,000. Defender Capital LLC. lifted its holdings in Fortive by 33.1% in the second quarter. Defender Capital LLC. now owns 391,001 shares of the technology company’s stock worth $27,267,000 after buying an additional 97,337 shares during the period. Flossbach Von Storch AG lifted its holdings in Fortive by 59.4% in the second quarter. Flossbach Von Storch AG now owns 9,130,156 shares of the technology company’s stock worth $636,737,000 after buying an additional 3,403,593 shares during the period. Public Sector Pension Investment Board lifted its holdings in Fortive by 73.6% in the second quarter. Public Sector Pension Investment Board now owns 57,728 shares of the technology company’s stock worth $4,026,000 after buying an additional 24,470 shares during the period. Finally, Private Trust Co. NA lifted its holdings in Fortive by 2.0% in the third quarter. Private Trust Co. NA now owns 7,764 shares of the technology company’s stock worth $548,000 after buying an additional 154 shares during the period. 90.53% of the stock is currently owned by institutional investors.

In related news, SVP Peter C. Underwood sold 6,575 shares of the firm’s stock in a transaction on Wednesday, November 3rd. The shares were sold at an average price of $76.99, for a total transaction of $506,209.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on FTV. Credit Suisse Group lifted their target price on shares of Fortive from $84.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, October 29th. Wells Fargo & Company assumed coverage on shares of Fortive in a research report on Thursday, October 7th. They set an “equal weight” rating and a $72.00 price objective for the company. Morgan Stanley boosted their price target on shares of Fortive from $78.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 29th. Loop Capital initiated coverage on shares of Fortive in a research report on Monday. They set a “buy” rating and a $90.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on shares of Fortive from $75.00 to $77.00 and gave the company a “sector perform” rating in a research report on Friday, October 29th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $80.00.

NYSE:FTV traded down $0.27 during midday trading on Thursday, reaching $78.03. 1,820,306 shares of the stock traded hands, compared to its average volume of 2,351,244. Fortive Co. has a 12-month low of $64.58 and a 12-month high of $79.87. The business has a 50-day moving average of $74.65 and a two-hundred day moving average of $72.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 0.85. The stock has a market capitalization of $27.98 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 19.28 and a beta of 1.15.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 28th. The technology company reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Fortive had a net margin of 31.85% and a return on equity of 10.53%. Fortive’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Research analysts anticipate that Fortive Co. will post 2.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Friday, November 26th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, November 24th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.36%. Fortive’s payout ratio is currently 6.17%.

About Fortive

Fortive Corp. engages in the design, development, manufacturing, and marketing of professional and engineered products, software, and services for a variety of end markets. It operates through the following segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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