Hikari Tsushin Inc. Grows Stake in Fortive Co. (NYSE:FTV)

Hikari Tsushin Inc. increased its holdings in shares of Fortive Co. (NYSE:FTV - Free Report) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,226 shares of the technology company's stock after acquiring an additional 4,600 shares during the quarter. Fortive comprises 0.3% of Hikari Tsushin Inc.'s investment portfolio, making the stock its 28th biggest position. Hikari Tsushin Inc.'s holdings in Fortive were worth $4,742,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FTV. Whipplewood Advisors LLC acquired a new position in shares of Fortive in the 4th quarter valued at $31,000. Versant Capital Management Inc increased its position in shares of Fortive by 186.8% during the fourth quarter. Versant Capital Management Inc now owns 456 shares of the technology company's stock worth $34,000 after acquiring an additional 297 shares during the period. Crews Bank & Trust acquired a new stake in Fortive in the 4th quarter valued at about $37,000. Albion Financial Group UT purchased a new stake in shares of Fortive during the fourth quarter worth approximately $38,000. Finally, Dakota Community Bank & Trust NA lifted its stake in Fortive by 28.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 786 shares of the technology company's stock worth $59,000 after acquiring an additional 175 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Fortive Stock Performance

Fortive stock traded down $1.46 during mid-day trading on Wednesday, reaching $61.12. 1,953,137 shares of the company were exchanged, compared to its average volume of 2,303,994. The firm's 50-day simple moving average is $76.37 and its two-hundred day simple moving average is $76.58. Fortive Co. has a twelve month low of $60.21 and a twelve month high of $84.69. The firm has a market cap of $20.80 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.91 and a current ratio of 1.16.

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Fortive (NYSE:FTV - Get Free Report) last issued its quarterly 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 quarter in the prior year, the firm earned $0.98 earnings per share. Equities analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be issued 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 yield of 0.52%. Fortive's dividend payout ratio is currently 13.56%.

Insider Activity at Fortive

In other Fortive news, CEO James A. Lico sold 196,117 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $80.38, for a total value of $15,763,884.46. Following the completion of the sale, the chief executive officer now owns 528,851 shares of the company's stock, valued at approximately $42,509,043.38. This trade represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stacey A. Walker sold 3,002 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the transaction, the senior vice president now owns 42,373 shares of the company's stock, valued at $3,349,585.65. This represents a 6.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,385 shares of company stock worth $19,508,529 over the last 90 days. Company insiders own 1.01% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank of Canada raised their price target on Fortive from $77.00 to $85.00 and gave the company a "sector perform" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Fortive from $90.00 to $73.00 and set an "overweight" rating for the company in a research report on Tuesday. Truist Financial dropped their target price on shares of Fortive from $90.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. Finally, StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $83.33.

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.