Synovus Financial Corp reduced its holdings in shares of Fortive Corporation (NYSE:FTV) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,864 shares of the technology company’s stock after selling 723 shares during the period. Synovus Financial Corp’s holdings in Fortive were worth $2,035,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of Fortive in the second quarter worth approximately $173,000. CIBC Asset Management Inc grew its stake in shares of Fortive by 2.4% in the second quarter. CIBC Asset Management Inc now owns 29,343 shares of the technology company’s stock worth $1,859,000 after acquiring an additional 687 shares during the period. Korea Investment CORP grew its stake in shares of Fortive by 64.5% in the second quarter. Korea Investment CORP now owns 95,088 shares of the technology company’s stock worth $6,024,000 after acquiring an additional 37,270 shares during the period. Retirement Systems of Alabama grew its stake in shares of Fortive by 0.3% in the second quarter. Retirement Systems of Alabama now owns 249,272 shares of the technology company’s stock worth $15,791,000 after acquiring an additional 688 shares during the period. Finally, Palisade Capital Management LLC NJ grew its stake in shares of Fortive by 11.5% in the second quarter. Palisade Capital Management LLC NJ now owns 162,354 shares of the technology company’s stock worth $10,285,000 after acquiring an additional 16,692 shares during the period. 78.96% of the stock is owned by institutional investors and hedge funds.

FTV has been the subject of several recent research reports. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. SunTrust Banks restated a “buy” rating and set a $81.00 target price on shares of Fortive in a research report on Friday, October 27th. Citigroup boosted their target price on shares of Fortive from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Stifel Nicolaus boosted their target price on shares of Fortive from $62.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, ValuEngine lowered shares of Fortive from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $70.27.

Fortive Corporation (NYSE FTV) traded down $1.28 on Wednesday, hitting $72.95. 1,140,200 shares of the company’s stock were exchanged, compared to its average volume of 1,350,930. The company has a market capitalization of $25,799.31, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.57 and a beta of 0.38. Fortive Corporation has a fifty-two week low of $52.99 and a fifty-two week high of $75.69. The company has a current ratio of 1.95, a quick ratio of 1.54 and a debt-to-equity ratio of 1.06.

Fortive (NYSE:FTV) last released its earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Fortive had a net margin of 14.39% and a return on equity of 31.67%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. equities research analysts expect that Fortive Corporation will post 2.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, November 24th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Wednesday, November 22nd. Fortive’s payout ratio is 10.57%.

In related news, SVP Stacey A. Walker sold 4,775 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total transaction of $346,139.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James A. Lico sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the sale, the insider now directly owns 166,014 shares in the company, valued at approximately $12,142,263.96. The disclosure for this sale can be found here. 12.10% of the stock is owned by corporate insiders.

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Fortive Company Profile

Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.

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Institutional Ownership by Quarter for Fortive (NYSE:FTV)

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