Fortive Corp (NYSE:FTV) Shares Sold by Metropolitan Life Insurance Co NY

Metropolitan Life Insurance Co NY cut its holdings in shares of Fortive Corp (NYSE:FTV) by 17.0% during the third quarter, reports. The fund owned 48,013 shares of the technology company’s stock after selling 9,834 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Fortive were worth $3,292,000 at the end of the most recent reporting period.

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Other large investors have also recently bought and sold shares of the company. Atria Investments LLC raised its stake in shares of Fortive by 7.8% in the 2nd quarter. Atria Investments LLC now owns 12,974 shares of the technology company’s stock valued at $896,000 after acquiring an additional 944 shares during the period. Meadow Creek Investment Management LLC increased its stake in Fortive by 43.1% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 356,950 shares of the technology company’s stock worth $29,099,000 after buying an additional 107,536 shares during the period. Chesapeake Wealth Management increased its position in shares of Fortive by 35.2% in the 2nd quarter. Chesapeake Wealth Management now owns 10,623 shares of the technology company’s stock valued at $866,000 after purchasing an additional 2,763 shares during the last quarter. Bartlett & Co. LLC purchased a new stake in shares of Fortive in the 3rd quarter valued at approximately $177,000. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Fortive in the 2nd quarter valued at approximately $241,000. Institutional investors own 82.85% of the company’s stock.

Shares of FTV opened at $72.17 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.19 and a debt-to-equity ratio of 0.72. The company has a 50-day simple moving average of $70.80 and a 200-day simple moving average of $73.70. Fortive Corp has a 52-week low of $62.89 and a 52-week high of $89.48. The company has a market capitalization of $24.23 billion, a PE ratio of 23.58, a P/E/G ratio of 2.63 and a beta of 1.21.

Fortive (NYSE:FTV) last posted its earnings results on Thursday, October 24th. The technology company reported $0.87 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.87. Fortive had a net margin of 37.57% and a return on equity of 17.41%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, research analysts anticipate that Fortive Corp will post 3.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.28 annualized dividend and a yield of 0.39%. Fortive’s dividend payout ratio (DPR) is currently 9.15%.

In other Fortive news, SVP Martin Gafinowitz sold 18,543 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $72.41, for a total transaction of $1,342,698.63. Following the completion of the transaction, the senior vice president now directly owns 101,169 shares in the company, valued at approximately $7,325,647.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.70% of the company’s stock.

A number of equities research analysts have commented on FTV shares. Morgan Stanley dropped their price objective on shares of Fortive from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, October 11th. Rosenblatt Securities reissued a “hold” rating and issued a $77.00 price objective on shares of Fortive in a research report on Sunday, November 17th. Bank of America dropped their price objective on shares of Fortive from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada set a $73.00 target price on shares of Fortive and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Zacks Investment Research upgraded shares of Fortive from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Fortive has an average rating of “Hold” and a consensus price target of $77.92.

About Fortive

Fortive Corporation designs, develops, manufactures, markets, and services professional and engineered products, software, and services worldwide. Its Professional Instrumentation segment provides test tools, and thermal imaging and calibration equipment for electrical, industrial, electronic, and calibration applications; online condition-based monitoring equipment; portable gas detection equipment, consumables, and software as a service offerings; subscription-based technical, analytical, and compliance services; and software, data analytics, and services for critical infrastructure in utility, industrial, energy, construction, public safety, mining, and healthcare applications.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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