CANADA LIFE ASSURANCE Co Raises Position in Fortive Co. (NYSE:FTV)

CANADA LIFE ASSURANCE Co boosted its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,166 shares of the technology company's stock after buying an additional 28,927 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of Fortive worth $21,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank grew its position in shares of Fortive by 197.0% during the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock worth $1,145,000 after acquiring an additional 10,125 shares during the last quarter. Principal Financial Group Inc. grew its position in 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 purchasing an additional 10,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Fortive by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock valued at $2,832,000 after purchasing an additional 7,829 shares during the period. Nordea Investment Management AB raised its holdings in shares of Fortive by 23.9% in the fourth quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock valued at $118,292,000 after buying an additional 303,788 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Fortive in the fourth quarter valued at about $358,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Price Performance

Shares of NYSE:FTV traded up $1.87 during trading on Thursday, hitting $68.93. 1,556,999 shares of the stock were exchanged, compared to its average volume of 2,373,558. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.32. The company has a market cap of $23.46 billion, a PE ratio of 29.21, a P/E/G ratio of 2.68 and a beta of 1.12. The company has a fifty day moving average price of $72.86 and a two-hundred day moving average price of $75.62. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same period last year, the business earned $0.98 EPS. On average, analysts forecast that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, May 30th. Fortive's payout ratio is currently 13.56%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Fortive from $90.00 to $73.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup dropped their target price on Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company increased their price target on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. BNP Paribas cut shares of Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price objective on the stock. in a research note on Wednesday, April 9th. Finally, Truist Financial cut their price objective on shares of Fortive from $90.00 to $81.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $81.92.

Insider Buying and Selling at Fortive

In related news, CAO Christopher M. Mulhall sold 6,493 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total value of $519,115.35. Following the completion of the transaction, the chief accounting officer now owns 24,283 shares of the company's stock, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 76,126 shares in the company, valued at approximately $6,003,296.36. This trade represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock valued at $19,508,529 over the last quarter. Corporate insiders own 1.01% of the company's stock.

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.