Clean Energy Transition LLP purchased a new position in Fortive Co. (NYSE:FTV - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 784,384 shares of the technology company's stock, valued at approximately $58,829,000. Fortive accounts for approximately 2.2% of Clean Energy Transition LLP's portfolio, making the stock its 6th largest position. Clean Energy Transition LLP owned approximately 0.23% of Fortive at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC raised its position in shares of Fortive by 14.6% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,237 shares of the technology company's stock valued at $1,045,000 after buying an additional 1,689 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Fortive by 4.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 144,409 shares of the technology company's stock worth $11,398,000 after acquiring an additional 6,515 shares during the period. Geode Capital Management LLC lifted its holdings in Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company's stock worth $644,346,000 after buying an additional 46,704 shares during the period. Coldstream Capital Management Inc. raised its holdings in Fortive by 16.5% in the third quarter. Coldstream Capital Management Inc. now owns 16,226 shares of the technology company's stock worth $1,280,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Fortive by 48.2% in the 3rd quarter. Toronto Dominion Bank now owns 178,199 shares of the technology company's stock worth $14,065,000 after acquiring an additional 57,971 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.
Insider Transactions at Fortive
In related news, SVP Stacey A. Walker sold 5,688 shares of Fortive stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $80.52, for a total value of $457,997.76. Following the sale, the senior vice president now owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now directly owns 76,126 shares in the company, valued at approximately $6,003,296.36. This represents a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,385 shares of company stock worth $19,508,529. Company insiders own 1.01% of the company's stock.
Fortive Stock Up 1.7 %
Shares of FTV traded up $1.09 during midday trading on Monday, reaching $66.07. The stock had a trading volume of 2,262,530 shares, compared to its average volume of 2,361,946. The company has a market cap of $22.48 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 2.68 and a beta of 1.12. Fortive Co. has a 1-year low of $60.39 and a 1-year high of $83.66. The company's fifty day simple moving average is $75.19 and its two-hundred day simple moving average is $76.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91.
Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping 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 company posted $0.98 EPS. Equities research analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.
Fortive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, May 30th. Fortive's payout ratio is presently 13.56%.
Analysts Set New Price Targets
A number of analysts have weighed in on FTV shares. StockNews.com lowered shares of Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Citigroup reduced their price target on shares of Fortive from $84.00 to $69.00 and set a "neutral" rating on the stock in a research report on Monday. Barclays lowered their price target on shares of Fortive from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. 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 note on Tuesday, April 8th. Finally, Royal Bank of Canada boosted their price objective on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Monday, February 10th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $81.92.
View Our Latest Research Report on FTV
About Fortive
(
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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