Brighton Jones LLC Sells 1,072 Shares of Fortive Co. (NYSE:FTV)

Brighton Jones LLC cut its position in Fortive Co. (NYSE:FTV) by 27.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,895 shares of the technology company’s stock after selling 1,072 shares during the quarter. Brighton Jones LLC’s holdings in Fortive were worth $229,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FTV. Lipe & Dalton lifted its position in Fortive by 1.9% during the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock valued at $610,000 after acquiring an additional 130 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Fortive by 3.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company’s stock worth $308,000 after purchasing an additional 135 shares in the last quarter. RDA Financial Network grew its stake in Fortive by 3.4% during the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after buying an additional 138 shares during the last quarter. Pitcairn Co. increased its position in Fortive by 1.3% during the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock valued at $961,000 after buying an additional 139 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock valued at $1,371,000 after buying an additional 146 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Price Performance

Shares of NYSE FTV opened at $74.97 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.23 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $75.16 and its 200-day simple moving average is $74.83. Fortive Co. has a 12 month low of $63.50 and a 12 month high of $87.10. The stock has a market capitalization of $26.26 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.21 and a beta of 1.12.

Fortive (NYSE:FTV) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Analysts expect that Fortive Co. will post 3.82 EPS for the current year.

Fortive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 12.85%.

Analyst Upgrades and Downgrades

FTV has been the subject of several research analyst reports. TD Cowen raised shares of Fortive from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $90.00 in a research report on Monday, July 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 price objective on shares of Fortive in a research note on Friday, September 6th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Truist Financial lifted their price target on Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised Fortive from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $90.00 to $92.00 in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.10.

Insider Transactions at Fortive

In other Fortive news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’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 transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 68,161 shares in the company, valued at $5,030,281.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

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.