Mizuho Securities USA LLC Has $315.72 Million Stake in Fortive Co. (NYSE:FTV)

Mizuho Securities USA LLC increased its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 14,635.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,000,000 shares of the technology company's stock after buying an additional 3,972,855 shares during the period. Fortive comprises 0.8% of Mizuho Securities USA LLC's portfolio, making the stock its 19th largest holding. Mizuho Securities USA LLC owned 1.15% of Fortive worth $315,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC increased its position in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock worth $308,000 after buying an additional 135 shares in the last quarter. RDA Financial Network raised its stake in Fortive by 3.4% in the 2nd quarter. RDA Financial Network now owns 4,191 shares of the technology company's stock valued at $311,000 after purchasing an additional 138 shares during the last quarter. Pitcairn Co. lifted its holdings in Fortive by 1.3% in the 1st quarter. Pitcairn Co. now owns 11,170 shares of the technology company's stock valued at $961,000 after purchasing an additional 139 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Fortive by 0.8% during the 2nd quarter. QRG Capital Management Inc. now owns 18,507 shares of the technology company's stock worth $1,371,000 after purchasing an additional 146 shares during the last quarter. Finally, Andina Capital Management LLC grew its holdings in shares of Fortive by 3.4% during the second quarter. Andina Capital Management LLC now owns 4,433 shares of the technology company's stock worth $328,000 after buying an additional 147 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fortive

In related news, CFO Charles E. Mclaughlin sold 6,864 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.03, for a total value of $508,141.92. Following the completion of the sale, the chief financial officer now directly owns 73,391 shares in the company, valued at approximately $5,433,135.73. This represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Peter C. Underwood sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $76.58, for a total value of $382,900.00. Following the sale, the senior vice president now owns 48,346 shares of the company's stock, valued at approximately $3,702,336.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,895 shares of company stock valued at $14,261,051. Corporate insiders own 1.01% of the company's stock.

Fortive Stock Performance

Fortive stock traded down $0.79 during mid-day trading on Friday, hitting $74.82. 3,452,457 shares of the company's stock traded hands, compared to its average volume of 1,976,071. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. The firm has a 50 day moving average price of $75.53 and a 200 day moving average price of $74.18. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The company has a market cap of $25.96 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13.

Fortive (NYSE:FTV - Get Free Report) last issued its 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 firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts forecast that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, November 29th. Fortive's dividend payout ratio is currently 12.75%.

Analysts Set New Price Targets

FTV has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a report on Friday, November 1st. Raymond James raised shares of Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 target price on the stock in a research note on Thursday, September 5th. StockNews.com raised shares of Fortive from a "hold" rating to a "buy" rating in a research report on Friday, September 13th. Royal Bank of Canada cut their price objective on Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 31st. Finally, Wolfe Research downgraded Fortive from an "outperform" rating to a "peer perform" rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.82.

Fortive Company 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.