Bradley Foster & Sargent Inc. CT Sells 11,237 Shares of Fortive Co. (NYSE:FTV)

Bradley Foster & Sargent Inc. CT lessened its holdings in Fortive Co. (NYSE:FTV) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,305 shares of the technology company’s stock after selling 11,237 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Fortive were worth $7,433,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Fortive in the 4th quarter valued at approximately $268,686,000. Janus Henderson Group PLC raised its position in shares of Fortive by 47.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after acquiring an additional 1,999,792 shares during the period. Boston Partners raised its position in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock valued at $554,253,000 after acquiring an additional 1,045,245 shares during the period. Kodai Capital Management LP acquired a new stake in shares of Fortive in the 4th quarter valued at approximately $45,557,000. Finally, Nordea Investment Management AB raised its position in shares of Fortive by 70.1% in the 1st quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock valued at $77,058,000 after acquiring an additional 369,351 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research downgraded shares of Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Barclays raised their target price on shares of Fortive from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Thursday, September 5th. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $90.00 in a report on Friday, September 6th. Finally, TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Fortive has a consensus rating of “Moderate Buy” and a consensus price target of $86.23.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at $5,433,135.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Jonathan L. Schwarz sold 14,223 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

Fortive Price Performance

NYSE FTV opened at $75.71 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 0.32. Fortive Co. has a 12-month low of $63.05 and a 12-month high of $87.10. The company has a market capitalization of $26.65 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The firm’s 50 day moving average is $72.36 and its 200-day moving average is $76.28.

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

Fortive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

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.