Principal Financial Group Inc. increased its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 406,085 shares of the technology company's stock after purchasing an additional 10,795 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Fortive worth $32,052,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Raymond James & Associates lifted its stake 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. lifted its stake in shares of Fortive by 4.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,932 shares of the technology company's stock worth $389,000 after purchasing an additional 226 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Fortive by 599.3% during the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company's stock worth $4,520,000 after purchasing an additional 45,032 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Fortive by 6.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 275,489 shares of the technology company's stock worth $23,719,000 after purchasing an additional 17,225 shares during the last quarter. Finally, Addenda Capital Inc. lifted its stake in shares of Fortive by 8.8% during the 2nd quarter. Addenda Capital Inc. now owns 98,487 shares of the technology company's stock worth $7,298,000 after purchasing an additional 7,936 shares during the last quarter. Institutional investors own 94.94% of the company's stock.
Insider Buying and Selling at Fortive
In related news, SVP Stacey A. Walker sold 171,808 shares of the business's stock in a transaction on Friday, November 1st. The stock was 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 owns 42,651 shares in the company, valued at approximately $3,058,503.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Stacey A. Walker sold 171,808 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the completion of the transaction, the senior vice president now directly owns 42,651 shares of the company's stock, valued at $3,058,503.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total value of $508,141.92. Following the transaction, the chief financial officer now directly owns 73,391 shares of the company's stock, valued at $5,433,135.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,895 shares of company stock worth $13,878,151 over the last quarter. 1.01% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Truist Financial decreased their price objective on Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. raised Fortive from a "neutral" rating to an "overweight" rating and upped their target price for the company from $90.00 to $92.00 in a research report on Thursday, October 10th. Wolfe Research lowered Fortive from an "outperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Wells Fargo & Company reduced their target price on Fortive from $82.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, StockNews.com raised Fortive from a "hold" rating to a "buy" rating in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Fortive presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.20.
Check Out Our Latest Stock Report on Fortive
Fortive Trading Down 1.5 %
Fortive stock traded down $1.11 during trading on Tuesday, reaching $75.05. 2,421,818 shares of the company were exchanged, compared to its average volume of 1,959,674. Fortive Co. has a 52-week low of $65.14 and a 52-week high of $87.10. The company has a market capitalization of $26.04 billion, a P/E ratio of 30.34, a PEG ratio of 2.06 and a beta of 1.13. 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 stock's 50 day simple moving average is $75.25 and its two-hundred day simple moving average is $74.18.
Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.85 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that Fortive Co. will post 3.85 earnings per share for the current fiscal year.
Fortive Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive's dividend payout ratio is currently 12.75%.
Fortive Profile
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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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