FIL Ltd Has $16.22 Million Position in Fortive Co. (NYSE:FTV)

FIL Ltd raised its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,247 shares of the technology company's stock after acquiring an additional 8,999 shares during the period. FIL Ltd owned approximately 0.06% of Fortive worth $16,219,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Hawaiian Bank increased its holdings in Fortive by 197.0% in the fourth 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 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 valued at $32,052,000 after buying an additional 10,795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Fortive by 26.4% in the 4th 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 last quarter. Nordea Investment Management AB increased its stake in 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 purchasing an additional 303,788 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new position in Fortive in the fourth quarter valued at approximately $358,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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Fortive Stock Down 0.4 %

Shares of FTV traded down $0.26 during mid-day trading on Tuesday, reaching $65.75. The company's stock had a trading volume of 2,223,514 shares, compared to its average volume of 2,361,391. The company's 50 day moving average is $74.92 and its 200 day moving average is $76.18. Fortive Co. has a 12-month low of $60.39 and a 12-month high of $83.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The stock has a market cap of $22.37 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 EPS for the quarter, topping 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 last year, the firm posted $0.98 EPS. Equities analysts anticipate that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. Fortive's dividend payout ratio is currently 13.56%.

Insider Buying and Selling at Fortive

In other news, CAO Christopher M. Mulhall sold 6,493 shares of Fortive stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $79.95, for a total transaction of $519,115.35. Following the sale, the chief accounting officer now directly owns 24,283 shares in the company, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James A. Lico sold 196,117 shares of the firm's stock in a transaction that occurred 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 directly owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock valued at $19,508,529 in the last quarter. Corporate insiders own 1.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently 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. JPMorgan Chase & Co. decreased their price objective on Fortive from $90.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Truist Financial cut their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company upped 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. Finally, BNP Paribas lowered Fortive from an "outperform" rating to a "neutral" rating and set a $67.00 price objective for the company. in a report on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Fortive currently has a consensus rating of "Hold" and a consensus target price of $81.92.

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.