Nisa Investment Advisors LLC Sells 9,159 Shares of Fortive Corporation $FTV

Nisa Investment Advisors LLC lessened its stake in Fortive Corporation (NYSE:FTV) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,963 shares of the technology company’s stock after selling 9,159 shares during the period. Nisa Investment Advisors LLC’s holdings in Fortive were worth $4,273,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FTV. Brighton Jones LLC increased its stake in Fortive by 97.1% in the 4th quarter. Brighton Jones LLC now owns 5,706 shares of the technology company’s stock worth $428,000 after buying an additional 2,811 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Fortive by 11.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 10,793 shares of the technology company’s stock worth $790,000 after buying an additional 1,076 shares during the period. Bessemer Group Inc. increased its stake in Fortive by 46.7% in the 1st quarter. Bessemer Group Inc. now owns 7,571 shares of the technology company’s stock worth $554,000 after buying an additional 2,410 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Fortive by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,207 shares of the technology company’s stock worth $3,065,000 after buying an additional 4,705 shares during the period. Finally, Amalgamated Bank increased its stake in Fortive by 0.5% in the 1st quarter. Amalgamated Bank now owns 67,018 shares of the technology company’s stock worth $4,904,000 after buying an additional 313 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Up 2.3%

Shares of FTV opened at $50.28 on Thursday. The stock has a market capitalization of $17.01 billion, a PE ratio of 22.65, a P/E/G ratio of 3.12 and a beta of 1.15. Fortive Corporation has a 1 year low of $46.34 and a 1 year high of $83.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.82 and a current ratio of 0.98. The company’s 50-day simple moving average is $48.73 and its 200-day simple moving average is $57.24.

Fortive (NYSE:FTV) last released its earnings results on Monday, June 9th. The technology company reported $0.80 earnings per share for the quarter. Fortive had a net margin of 13.62% and a return on equity of 11.96%. The firm had revenue of $1.07 billion for the quarter. Analysts forecast that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Fortive’s dividend payout ratio (DPR) is 10.81%.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. TD Cowen downgraded shares of Fortive from a “buy” rating to a “hold” rating and cut their target price for the company from $85.00 to $50.00 in a research report on Tuesday, July 15th. Royal Bank Of Canada cut their target price on shares of Fortive from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 31st. Melius downgraded shares of Fortive from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Fortive to a “hold” rating in a research report on Friday, September 5th. Finally, Mizuho cut their target price on shares of Fortive from $65.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.14.

About Fortive

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.