Mutual of America Capital Management LLC Decreases Stock Holdings in Fortive Co. (NYSE:FTV)

Mutual of America Capital Management LLC cut its stake in Fortive Co. (NYSE:FTV) by 2.8% in the third quarter, Holdings Channel.com reports. The firm owned 43,150 shares of the technology company’s stock after selling 1,261 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fortive were worth $3,406,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Fortive in the 3rd quarter worth $25,000. Ridgewood Investments LLC acquired a new stake in Fortive during the second quarter worth about $30,000. International Assets Investment Management LLC acquired a new stake in Fortive during the second quarter worth about $30,000. Goodman Advisory Group LLC purchased a new position in Fortive during the second quarter worth about $31,000. Finally, Advisors Asset Management Inc. acquired a new position in Fortive in the 1st quarter valued at about $32,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Up 1.9 %

FTV stock opened at $78.42 on Friday. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The company’s 50 day moving average price is $75.85 and its 200 day moving average price is $74.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The firm has a market capitalization of $27.21 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.05 and a beta of 1.13.

Fortive (NYSE:FTV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. Fortive’s dividend payout ratio is currently 12.75%.

Insider Activity

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 17.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $76.58, for a total transaction of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,895 shares of company stock worth $14,261,051. 1.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FTV. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Argus restated a “hold” rating on shares of Fortive in a research report on Monday, November 18th. Truist Financial lowered their price target on Fortive from $90.00 to $89.00 and set a “buy” rating for the company in a report on Friday, November 1st. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Finally, Royal Bank of Canada dropped their target price on shares of Fortive from $85.00 to $77.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.82.

Fortive Company 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.