37,327 Fortive Corporation $FTV Shares Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Fortive stake by 9.6% in the third quarter, buying 37,327 shares and ending the period with 427,271 shares valued at about $23.5 million.
• Fortive reported quarterly earnings of $0.77 per share, beating the $0.70 analyst consensus, while revenue of $1.11 billion also topped estimates and rose 7.8% year over year.
• Analysts’ consensus rating was “Reduce,” with an average price target of $64.36; meanwhile, company insiders sold 74,497 shares worth about $4.84 million over the past three months.

Candriam S.C.A. boosted its stake in Fortive Corporation (NYSE:FTV - Free Report) by 9.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 427,271 shares of the technology company's stock after buying an additional 37,327 shares during the period. Candriam S.C.A. owned 0.14% of Fortive worth $23,504,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Arkadios Wealth Advisors boosted its holdings in shares of Fortive by 2.1% in the first quarter. Arkadios Wealth Advisors now owns 9,047 shares of the technology company's stock valued at $500,000 after acquiring an additional 187 shares in the last quarter. Mather Group LLC. increased its stake in shares of Fortive by 86.8% during the third quarter. Mather Group LLC. now owns 467 shares of the technology company's stock valued at $26,000 after acquiring an additional 217 shares during the period. Baird Financial Group Inc. increased its stake in shares of Fortive by 2.0% during the second quarter. Baird Financial Group Inc. now owns 11,127 shares of the technology company's stock valued at $680,000 after acquiring an additional 222 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of Fortive by 4.2% during the first quarter. First Citizens Bank & Trust Co. now owns 5,604 shares of the technology company's stock valued at $310,000 after acquiring an additional 224 shares during the period. Finally, Dakota Community Bank & Trust NA raised its holdings in Fortive by 59.2% during the first quarter. Dakota Community Bank & Trust NA now owns 702 shares of the technology company's stock worth $39,000 after purchasing an additional 261 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Stock Performance

NYSE:FTV opened at $65.37 on Monday. The company has a 50-day moving average of $58.42 and a 200-day moving average of $58.94. The firm has a market cap of $19.46 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.03. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 0.59. Fortive Corporation has a twelve month low of $49.99 and a twelve month high of $68.94.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, October 28th. The technology company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortive had a net margin of 14.83% and a return on equity of 15.79%. The business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. Analysts forecast that Fortive Corporation will post 3.12 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Friday, November 27th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $0.28 dividend on an annualized basis and a yield of 0.4%. Fortive's dividend payout ratio (DPR) is currently 13.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on Fortive from $65.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, October 29th. Robert W. Baird set a $75.00 price target on Fortive in a research note on Thursday, October 29th. Royal Bank Of Canada lifted their price target on Fortive from $59.00 to $68.00 and gave the company a "sector perform" rating in a research report on Thursday, October 29th. Mizuho set a $55.00 price objective on Fortive in a research note on Thursday, October 29th. Finally, Evercore began coverage on Fortive in a research note on Monday, September 28th. They issued a "hold" rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Fortive currently has a consensus rating of "Reduce" and an average price target of $64.36.

Insider Transactions at Fortive

In other news, CAO Christopher M. Mulhall sold 17,962 shares of the business's stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $65.56, for a total transaction of $1,177,588.72. Following the sale, the chief accounting officer owned 44,598 shares in the company, valued at $2,923,844.88. The trade was a 28.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Peter Underwood sold 48,442 shares of the company's stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $64.60, for a total transaction of $3,129,353.20. Following the completion of the sale, the senior vice president owned 79,118 shares of the company's stock, valued at approximately $5,111,022.80. This trade represents a 37.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 74,497 shares of company stock worth $4,837,600 in the last three months. 0.65% of the stock is currently owned by company insiders.

Fortive Company Profile

Fortive is a global technology company that develops products and software for industrial, infrastructure and healthcare customers. Its businesses focus on helping organizations improve the safety, reliability and efficiency of their operations.

Fortive's offerings include electronic test and measurement tools, industrial safety and gas-detection systems, and software for managing facilities, assets and construction projects. Its portfolio includes brands such as Fluke, Industrial Scientific, Gordian, Accruent and Provation.

Fortive was formed in 2016 through a spin-off from Danaher.

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