Nomura Asset Management Co. Ltd. Has $11.14 Million Stock Position in Fortive Co. (NYSE:FTV)

Nomura Asset Management Co. Ltd. boosted its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,575 shares of the technology company's stock after acquiring an additional 4,166 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Fortive were worth $11,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FTV. Flossbach Von Storch SE boosted its holdings in shares of Fortive by 1.2% in the 4th quarter. Flossbach Von Storch SE now owns 11,903,240 shares of the technology company's stock worth $892,743,000 after acquiring an additional 137,479 shares in the last quarter. Geode Capital Management LLC boosted its stake in Fortive by 0.6% in the third quarter. Geode Capital Management LLC now owns 8,191,915 shares of the technology company's stock worth $644,346,000 after purchasing an additional 46,704 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock worth $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Boston Partners increased its stake in shares of Fortive by 2.1% in the fourth quarter. Boston Partners now owns 7,904,282 shares of the technology company's stock valued at $594,108,000 after buying an additional 166,123 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Fortive in the fourth quarter valued at $412,445,000. 94.94% of the stock is owned by institutional investors.

Remove Ads

Insiders Place Their Bets

In related news, CFO Charles E. Mclaughlin sold 32,085 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction 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 represents a 29.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Stacey A. Walker sold 5,688 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total transaction of $457,997.76. Following the completion of the transaction, the senior vice president now directly owns 47,141 shares of the company's stock, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,385 shares of company stock worth $19,508,529. Corporate insiders own 1.01% of the company's stock.

Fortive Stock Down 5.4 %

Shares of NYSE FTV traded down $3.62 during mid-day trading on Friday, reaching $64.00. 4,863,448 shares of the company's stock were exchanged, compared to its average volume of 2,273,303. Fortive Co. has a twelve month low of $62.33 and a twelve month high of $84.96. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $21.78 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.68 and a beta of 1.16. The business has a fifty day simple moving average of $77.39 and a 200 day simple moving average of $76.84.

Fortive (NYSE:FTV - Get Free Report) last posted its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 previous year, the business posted $0.98 earnings per share. As a group, equities analysts expect that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Friday, May 30th. Fortive's payout ratio is presently 13.56%.

Analysts Set New Price Targets

FTV has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Truist Financial increased their price target on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. StockNews.com cut shares of Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Citigroup lowered Fortive from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada boosted their target price on Fortive from $77.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Fortive presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.18.

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.