Groupama Asset Managment reduced its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 36.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,032 shares of the technology company's stock after selling 5,752 shares during the period. Groupama Asset Managment's holdings in Fortive were worth $753,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of FTV. First Hawaiian Bank raised its position in shares of Fortive by 197.0% in the 4th quarter. First Hawaiian Bank now owns 15,264 shares of the technology company's stock valued at $1,145,000 after purchasing an additional 10,125 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Fortive by 2.7% during 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 period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fortive by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,502 shares of the technology company's stock worth $2,832,000 after buying an additional 7,829 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Fortive during the third quarter worth $1,346,000. Finally, Nordea Investment Management AB grew its position in Fortive by 23.9% during the 4th quarter. Nordea Investment Management AB now owns 1,574,289 shares of the technology company's stock worth $118,292,000 after purchasing an additional 303,788 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.
Fortive Stock Performance
Shares of FTV traded down $0.64 during mid-day trading on Monday, reaching $63.49. The company had a trading volume of 1,476,653 shares, compared to its average volume of 2,274,686. The stock has a 50 day moving average of $77.39 and a two-hundred day moving average of $76.87. Fortive Co. has a 52-week low of $61.94 and a 52-week high of $84.96. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $21.61 billion, a P/E ratio of 26.77, a PEG ratio of 2.68 and a beta of 1.12.
Fortive (NYSE:FTV - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) 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 in the previous year, the firm posted $0.98 earnings per share. On average, analysts expect that Fortive Co. will post 4.05 earnings per share for the current year.
Fortive Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 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 dividend on an annualized basis and a dividend yield of 0.50%. Fortive's payout ratio is 13.56%.
Analysts Set New Price Targets
A number of research firms have issued reports on FTV. Barclays lowered their target price on Fortive from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. StockNews.com downgraded Fortive from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. cut their target price on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada lifted their price target on shares of Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a report on Monday, February 10th. Finally, Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $87.18.
Read Our Latest Stock Analysis on FTV
Insider Buying and Selling at Fortive
In other news, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $78.86, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the chief accounting officer now owns 24,283 shares in the company, valued at approximately $1,941,425.85. This represents a 21.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,385 shares of company stock valued at $19,508,529. Insiders own 1.01% of the company's stock.
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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