Paloma Partners Management Co Acquires 46,910 Shares of Fortive Co. (NYSE:FTV)

Paloma Partners Management Co grew its stake in Fortive Co. (NYSE:FTV) by 346.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,457 shares of the technology company’s stock after acquiring an additional 46,910 shares during the period. Paloma Partners Management Co’s holdings in Fortive were worth $4,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC grew its stake in Fortive by 14,635.7% in the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company’s stock valued at $315,720,000 after purchasing an additional 3,972,855 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Fortive by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,444,205 shares of the technology company’s stock valued at $271,851,000 after buying an additional 103,530 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Fortive by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,668,448 shares of the technology company’s stock valued at $197,726,000 after buying an additional 205,893 shares in the last quarter. Select Equity Group L.P. increased its holdings in Fortive by 6.8% during the second quarter. Select Equity Group L.P. now owns 2,641,314 shares of the technology company’s stock worth $195,721,000 after buying an additional 168,368 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Fortive by 3.8% during the second quarter. Canada Pension Plan Investment Board now owns 2,565,443 shares of the technology company’s stock worth $190,099,000 after acquiring an additional 94,170 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling at Fortive

In related news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the sale, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This trade represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the transaction, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,895 shares of company stock valued at $14,261,051 in the last three months. Corporate insiders own 1.01% of the company’s stock.

Fortive Stock Down 0.1 %

FTV opened at $79.33 on Monday. The stock has a fifty day moving average of $76.23 and a 200-day moving average of $74.22. The company has a market capitalization of $27.52 billion, a P/E ratio of 31.61, a P/E/G ratio of 2.18 and a beta of 1.13. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25.

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

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive’s dividend payout ratio (DPR) is presently 12.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Truist Financial lowered their price target on Fortive from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Barclays cut their price objective on Fortive from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. UBS Group began coverage on Fortive in a report on Wednesday, November 13th. They set a “neutral” rating and a $84.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.82.

About Fortive

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.