Generali Investments Management Co LLC acquired a new stake in Fortive Co. (NYSE:FTV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,666 shares of the technology company's stock, valued at approximately $950,000.
A number of other hedge funds also recently bought and sold shares of FTV. First Hawaiian Bank increased its holdings in shares of Fortive by 197.0% during the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock worth $1,145,000 after buying an additional 10,125 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Fortive by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after buying an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fortive by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock worth $2,832,000 after buying an additional 7,829 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Fortive during the 3rd quarter worth approximately $1,346,000. Finally, Nordea Investment Management AB increased its holdings in shares of Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock worth $118,292,000 after buying an additional 303,788 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.
Insider Transactions at Fortive
In related news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the sale, the chief financial officer now directly owns 76,126 shares in the company, valued at $6,003,296.36. This trade represents a 29.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James A. Lico sold 196,117 shares of Fortive stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the sale, the chief executive officer now owns 528,851 shares in the company, valued at $42,509,043.38. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 243,385 shares of company stock valued at $19,508,529. Insiders own 1.01% of the company's stock.
Fortive Stock Up 0.2 %
FTV stock traded up $0.18 during midday trading on Friday, hitting $74.84. The company's stock had a trading volume of 4,733,325 shares, compared to its average volume of 2,139,357. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. Fortive Co. has a 52-week low of $66.15 and a 52-week high of $86.21. The firm has a market capitalization of $25.47 billion, a P/E ratio of 31.71, a PEG ratio of 2.68 and a beta of 1.16. The firm has a 50-day simple moving average of $78.65 and a 200-day simple moving average of $76.86.
Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a net margin of 13.36% and a return on equity of 13.15%. During the same period in the previous year, the firm posted $0.98 earnings per share. As a group, equities analysts forecast that Fortive Co. will post 4.05 EPS for the current year.
Fortive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. Fortive's dividend payout ratio (DPR) is currently 13.56%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Citigroup cut shares of Fortive from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $92.00 to $86.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. lowered their price objective on shares of Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Barclays lowered their price objective on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada increased their price objective on shares of Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.64.
Check Out Our Latest Research Report on Fortive
Fortive Profile
(
Free Report)
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.
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