EFG Asset Management Americas Corp. Decreases Holdings in Fortive Co. (NYSE:FTV)

EFG Asset Management Americas Corp. trimmed its holdings in shares of Fortive Co. (NYSE:FTV) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,898 shares of the technology company’s stock after selling 2,945 shares during the period. Fortive accounts for about 1.3% of EFG Asset Management Americas Corp.’s holdings, making the stock its 24th largest holding. EFG Asset Management Americas Corp.’s holdings in Fortive were worth $6,251,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its position in shares of Fortive by 61,103.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,600,591 shares of the technology company’s stock worth $231,338,000 after purchasing an additional 3,594,708 shares in the last quarter. Norges Bank acquired a new stake in shares of Fortive during the fourth quarter worth about $193,761,000. Vanguard Group Inc. increased its position in shares of Fortive by 2.7% during the first quarter. Vanguard Group Inc. now owns 37,557,116 shares of the technology company’s stock worth $2,288,355,000 after purchasing an additional 989,883 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Fortive by 136.0% during the first quarter. Ameriprise Financial Inc. now owns 1,215,152 shares of the technology company’s stock worth $82,839,000 after purchasing an additional 700,298 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Fortive by 493.0% in the 4th quarter. Point72 Asset Management L.P. now owns 653,500 shares of the technology company’s stock valued at $41,987,000 after acquiring an additional 543,300 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on FTV. Vertical Research cut Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. StockNews.com raised Fortive from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Wells Fargo & Company increased their target price on Fortive from $79.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Truist Financial began coverage on Fortive in a research note on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. Finally, Royal Bank of Canada increased their target price on Fortive from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 1st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.54.

Insider Activity at Fortive

In other news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total transaction of $739,036.98. Following the transaction, the chief accounting officer now directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $82.17, for a total value of $739,036.98. Following the transaction, the chief accounting officer now owns 20,564 shares in the company, valued at approximately $1,689,743.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tamara S. Newcombe sold 5,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $85.00, for a total transaction of $425,000.00. Following the completion of the transaction, the chief executive officer now owns 55,017 shares in the company, valued at approximately $4,676,445. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,937 shares of company stock worth $5,475,122. 0.95% of the stock is currently owned by company insiders.

Fortive Trading Down 0.9 %

Shares of FTV traded down $0.69 during trading hours on Friday, hitting $79.49. The stock had a trading volume of 2,440,494 shares, compared to its average volume of 1,367,875. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. The firm has a market cap of $27.93 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.43 and a beta of 1.13. The company’s fifty day simple moving average is $84.41 and its 200 day simple moving average is $76.04. Fortive Co. has a 12-month low of $62.70 and a 12-month high of $87.10.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Fortive had a return on equity of 12.12% and a net margin of 14.27%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Equities research analysts forecast that Fortive Co. will post 3.78 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s payout ratio is currently 13.11%.

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.