Nisa Investment Advisors LLC Sells 3,564 Shares of Fortive Co. (NYSE:FTV)

Nisa Investment Advisors LLC lessened its position in Fortive Co. (NYSE:FTV) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,504 shares of the technology company’s stock after selling 3,564 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fortive were worth $7,538,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Lipe & Dalton grew its stake in shares of Fortive by 1.9% in the first quarter. Lipe & Dalton now owns 7,096 shares of the technology company’s stock worth $610,000 after purchasing an additional 130 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Fortive by 3.6% in the third 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 during the last quarter. RDA Financial Network grew its stake in shares of Fortive by 3.4% in the second quarter. RDA Financial Network now owns 4,191 shares of the technology company’s stock worth $311,000 after purchasing an additional 138 shares during the last quarter. Pitcairn Co. lifted its holdings in Fortive by 1.3% in the first quarter. Pitcairn Co. now owns 11,170 shares of the technology company’s stock worth $961,000 after buying an additional 139 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in Fortive by 0.8% in the second quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company’s stock worth $1,371,000 after buying an additional 146 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In other 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 transaction of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares in the company, valued at $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Charles E. Mclaughlin sold 6,864 shares of the 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 sale, the chief financial officer now 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 filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,049,657.40. Following the sale, the senior vice president now 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 disclosure for this sale can be found here. Corporate insiders own 1.01% of the company’s stock.

Fortive Stock Down 3.4 %

Shares of Fortive stock opened at $72.08 on Thursday. The company has a 50-day simple moving average of $75.33 and a two-hundred day simple moving average of $74.57. Fortive Co. has a 52-week low of $64.44 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23. The stock has a market capitalization of $25.37 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, September 13th. Fortive’s payout ratio is 12.65%.

Analyst Upgrades and Downgrades

FTV has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of Fortive from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $90.00 to $92.00 in a report on Thursday, October 10th. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a report on Monday, July 8th. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Truist Financial raised their price objective on shares of Fortive from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley began coverage on shares of Fortive in a report on Friday, September 6th. They issued an “overweight” rating and a $89.00 price objective for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Fortive currently has a consensus rating of “Moderate Buy” and an average target price of $89.10.

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.