PGGM Investments Has $4.49 Million Holdings in Fortive Co. (NYSE:FTV)

PGGM Investments trimmed its position in Fortive Co. (NYSE:FTV - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,844 shares of the technology company's stock after selling 5,154 shares during the quarter. PGGM Investments' holdings in Fortive were worth $4,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC grew its stake in Fortive by 14,635.7% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the technology company's stock worth $315,720,000 after buying an additional 3,972,855 shares during the last quarter. Point72 Asset Management L.P. raised its position in Fortive by 1,005.9% during the third quarter. Point72 Asset Management L.P. now owns 1,937,153 shares of the technology company's stock valued at $152,899,000 after buying an additional 1,761,983 shares during the period. Janus Henderson Group PLC raised its position in Fortive by 13.8% during the third quarter. Janus Henderson Group PLC now owns 8,041,324 shares of the technology company's stock valued at $634,701,000 after buying an additional 977,428 shares during the period. Holocene Advisors LP raised its position in Fortive by 1,014.1% during the third quarter. Holocene Advisors LP now owns 924,671 shares of the technology company's stock valued at $72,984,000 after buying an additional 841,671 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Fortive by 59.3% in the 3rd 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 currently owned by institutional investors.

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Fortive Price Performance

FTV stock traded down $0.39 during midday trading on Tuesday, reaching $74.35. 1,862,303 shares of the company's stock traded hands, compared to its average volume of 2,588,523. The company has a 50-day simple moving average of $78.78 and a two-hundred day simple moving average of $76.86. Fortive Co. has a 1-year low of $66.15 and a 1-year high of $87.10. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.68 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33.

Fortive (NYSE:FTV - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, beating 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. On average, analysts anticipate that Fortive Co. will post 4.05 earnings per share for the current year.

Fortive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. Fortive's payout ratio is 13.56%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FTV shares. StockNews.com lowered Fortive from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Wells Fargo & Company upped their price target on Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on Fortive from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Truist Financial upped 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. Finally, Citigroup downgraded Fortive from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $92.00 to $86.00 in a research note on Monday, December 9th. 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, Fortive presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.64.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 3,002 shares of Fortive stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $79.05, for a total transaction of $237,308.10. Following the transaction, the senior vice president now directly owns 42,373 shares in the company, valued at approximately $3,349,585.65. The trade was a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles E. Mclaughlin sold 32,085 shares of Fortive stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total value of $2,530,223.10. Following the completion of the sale, the chief financial officer now directly owns 76,126 shares in the company, valued at $6,003,296.36. This represents a 29.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,385 shares of company stock worth $19,508,529 in the last three months. 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.