245,071 Shares in Fortive Co. (NYSE:FTV) Bought by OFI Invest Asset Management

OFI Invest Asset Management bought a new position in shares of Fortive Co. (NYSE:FTV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 245,071 shares of the technology company's stock, valued at approximately $17,750,000. OFI Invest Asset Management owned about 0.07% of Fortive at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Fortive by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 406,085 shares of the technology company's stock valued at $32,052,000 after purchasing an additional 10,795 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Fortive in the third quarter valued at about $25,000. Assetmark Inc. boosted its stake in Fortive by 18.4% during the third quarter. Assetmark Inc. now owns 32,004 shares of the technology company's stock worth $2,526,000 after buying an additional 4,979 shares during the period. Atria Investments Inc boosted its stake in Fortive by 1.6% during the third quarter. Atria Investments Inc now owns 10,591 shares of the technology company's stock worth $836,000 after buying an additional 163 shares during the period. Finally, Kennebec Savings Bank acquired a new stake in shares of Fortive during the third quarter worth about $341,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insiders Place Their Bets

In other Fortive news, SVP Stacey A. Walker sold 3,002 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the completion of the sale, the senior vice president now directly owns 42,373 shares of the company's stock, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the business's 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 $6,003,296.36. The trade was a 29.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,385 shares of company stock valued at $19,508,529. 1.01% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FTV shares. UBS Group started coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 target price on the stock. Argus restated a "hold" rating on shares of Fortive in a research report on Monday, November 18th. Truist Financial lifted their price target on Fortive from $89.00 to $90.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Barclays reduced their target price on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup lowered shares of Fortive from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $92.00 to $86.00 in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.64.

Fortive Stock Down 0.9 %

Shares of NYSE:FTV traded down $0.70 during mid-day trading on Tuesday, reaching $74.22. 2,944,073 shares of the stock were exchanged, compared to its average volume of 2,125,319. The stock's 50 day simple moving average is $78.93 and its 200-day simple moving average is $76.86. Fortive Co. has a one year low of $66.15 and a one year high of $87.10. 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 company has a market cap of $25.26 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.68 and a beta of 1.16.

Fortive (NYSE:FTV - Get Free Report) last announced its earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share 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 last year, the company earned $0.98 EPS. As a group, equities research analysts predict that Fortive Co. will post 4.05 EPS for the current year.

Fortive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, February 28th. Fortive's dividend payout ratio (DPR) is 13.56%.

About Fortive

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.