Nordea Investment Management AB Grows Stock Holdings in Fortive Co. (NYSE:FTV)

Nordea Investment Management AB grew its position in shares of Fortive Co. (NYSE:FTV - Free Report) by 23.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,574,289 shares of the technology company's stock after purchasing an additional 303,788 shares during the quarter. Nordea Investment Management AB owned approximately 0.45% of Fortive worth $118,292,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its position in Fortive by 14,635.7% during the third quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock valued at $315,720,000 after acquiring an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Fortive by 1,005.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company's stock valued at $152,899,000 after purchasing an additional 1,761,983 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Fortive by 13.8% during the 3rd quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock valued at $634,701,000 after purchasing an additional 977,428 shares during the last quarter. Holocene Advisors LP raised its position in Fortive by 1,014.1% in the 3rd quarter. Holocene Advisors LP now owns 924,671 shares of the technology company's stock worth $72,984,000 after purchasing an additional 841,671 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Fortive by 59.3% in the third quarter. The Manufacturers Life Insurance Company now owns 1,359,069 shares of the technology company's stock worth $107,271,000 after purchasing an additional 505,882 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Fortive Stock Up 0.2 %

Shares of FTV traded up $0.15 on Tuesday, reaching $76.67. The stock had a trading volume of 2,446,162 shares, compared to its average volume of 2,211,340. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. Fortive Co. has a 12-month low of $66.15 and a 12-month high of $87.10. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14. The company has a 50-day simple moving average of $75.94 and a 200-day simple moving average of $74.61.

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, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. Sell-side analysts predict that Fortive Co. will post 3.85 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, November 29th. Fortive's dividend payout ratio is 12.75%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a report on Thursday, October 31st. Barclays lowered their price objective on Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. UBS Group initiated coverage on shares of Fortive in a research note on Wednesday, November 13th. They issued a "neutral" rating and a $84.00 target price on the stock. Citigroup cut shares of Fortive from a "buy" rating to a "neutral" rating and dropped their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Finally, Truist Financial boosted their price objective on shares of Fortive from $89.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.09.

Insider Activity

In other news, SVP Stacey A. Walker sold 171,808 shares of the firm'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 in the company, valued at $3,058,503.21. This trade represents a 80.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $382,900.00. Following the completion of the transaction, the senior vice president now owns 48,346 shares in the company, valued at approximately $3,702,336.68. The trade was a 9.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.01% of the company's stock.

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.