Baldwin Investment Management LLC Has $1.93 Million Stake in Fortive Co. (NYSE:FTV)

Baldwin Investment Management LLC reduced its holdings in Fortive Co. (NYSE:FTV) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,468 shares of the technology company’s stock after selling 3,261 shares during the quarter. Baldwin Investment Management LLC’s holdings in Fortive were worth $1,931,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in Fortive in the 1st quarter worth $32,000. Silvercrest Asset Management Group LLC raised its stake in shares of Fortive by 30.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 9,559 shares of the technology company’s stock valued at $822,000 after purchasing an additional 2,250 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Fortive by 18.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,628 shares of the technology company’s stock valued at $312,000 after purchasing an additional 557 shares in the last quarter. California State Teachers Retirement System increased its holdings in Fortive by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 583,166 shares of the technology company’s stock valued at $50,164,000 after buying an additional 6,007 shares during the period. Finally, Plato Investment Management Ltd raised its stake in shares of Fortive by 23,512.3% in the 1st quarter. Plato Investment Management Ltd now owns 17,237 shares of the technology company’s stock valued at $1,483,000 after buying an additional 17,164 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Stacey A. Walker sold 171,808 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the transaction, the senior vice president now owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 80.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Peter C. Underwood sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now directly owns 48,346 shares in the company, valued at $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,895 shares of company stock valued at $14,261,051 over the last three months. Company insiders own 1.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FTV shares. UBS Group initiated coverage on shares of Fortive in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $84.00 price target for the company. Mizuho upgraded shares of Fortive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $90.00 in a research report on Friday, September 6th. Wolfe Research lowered shares of Fortive from an “outperform” rating to a “peer perform” rating in a report on Friday, September 6th. Wells Fargo & Company reduced their target price on Fortive from $82.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Finally, Truist Financial dropped 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. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $87.82.

Fortive Price Performance

Shares of FTV stock opened at $78.94 on Wednesday. The firm has a market cap of $27.39 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 2.19 and a beta of 1.13. Fortive Co. has a 12 month low of $66.15 and a 12 month high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average price of $76.06 and a 200 day moving average price of $74.17.

Fortive (NYSE:FTV) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. Fortive’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts expect that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date of this dividend 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%.

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.