Fifth Third Bancorp Has $1.93 Million Stock Holdings in Fortive Co. (NYSE:FTV)

Fifth Third Bancorp lessened its holdings in Fortive Co. (NYSE:FTV - Free Report) by 42.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,708 shares of the technology company's stock after selling 18,925 shares during the period. Fifth Third Bancorp's holdings in Fortive were worth $1,928,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Raymond James & Associates raised its position in shares of Fortive by 15.0% during the 3rd quarter. Raymond James & Associates now owns 395,488 shares of the technology company's stock worth $31,216,000 after purchasing an additional 51,690 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Fortive by 4.8% during the third quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock valued at $389,000 after acquiring an additional 226 shares during the last quarter. First Hawaiian Bank lifted its position in shares of Fortive by 197.0% in the fourth quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after acquiring an additional 10,125 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Fortive by 2.7% in the third quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock worth $32,052,000 after acquiring an additional 10,795 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Fortive during the third quarter worth approximately $1,346,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Fortive Stock Up 0.8 %

Fortive stock traded up $0.60 during midday trading on Tuesday, hitting $80.37. 1,894,575 shares of the stock were exchanged, compared to its average volume of 2,214,112. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The company has a 50 day moving average price of $77.25 and a two-hundred day moving average price of $75.13. The firm has a market cap of $27.88 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.15 and a beta of 1.14. Fortive Co. has a 1 year low of $66.15 and a 1 year high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts predict that Fortive Co. will post 3.84 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.40%. Fortive's dividend payout ratio (DPR) is 12.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Citigroup downgraded shares of Fortive from a "buy" rating to a "neutral" rating and cut their price objective for the company from $92.00 to $86.00 in a report on Monday, December 9th. Wells Fargo & Company boosted their target price on Fortive from $77.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Finally, Barclays lowered their price objective on Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Fortive has a consensus rating of "Moderate Buy" and a consensus price target of $86.45.

Insider Buying and Selling at Fortive

In other Fortive news, SVP Peter C. Underwood sold 5,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the transaction, the senior vice president now owns 48,346 shares of the company's stock, valued at approximately $3,702,336.68. This represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey A. Walker sold 171,808 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the sale, the senior vice president now directly owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.01% of the stock is owned by company insiders.

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.