Jennison Associates LLC Purchases 620,866 Shares of Fortive Co. (NYSE:FTV)

Jennison Associates LLC boosted its stake in Fortive Co. (NYSE:FTV) by 111.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,176,655 shares of the technology company’s stock after acquiring an additional 620,866 shares during the period. Jennison Associates LLC owned 0.33% of Fortive worth $86,637,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Flossbach Von Storch AG lifted its position in Fortive by 4.8% during the fourth quarter. Flossbach Von Storch AG now owns 11,107,878 shares of the technology company’s stock valued at $817,873,000 after buying an additional 512,414 shares during the period. Ceredex Value Advisors LLC lifted its position in Fortive by 47.4% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,410,427 shares of the technology company’s stock valued at $103,850,000 after buying an additional 453,817 shares during the period. Artisan Partners Limited Partnership lifted its position in Fortive by 8.6% during the third quarter. Artisan Partners Limited Partnership now owns 3,294,446 shares of the technology company’s stock valued at $244,316,000 after buying an additional 260,404 shares during the period. Brown Advisory Inc. lifted its position in Fortive by 2.9% during the third quarter. Brown Advisory Inc. now owns 6,698,951 shares of the technology company’s stock valued at $496,794,000 after buying an additional 191,877 shares during the period. Finally, Quintet Private Bank Europe S.A. lifted its position in Fortive by 96.9% during the third quarter. Quintet Private Bank Europe S.A. now owns 372,472 shares of the technology company’s stock valued at $27,622,000 after buying an additional 183,335 shares during the period. Institutional investors own 94.94% of the company’s stock.

Fortive Trading Up 1.1 %

Fortive stock opened at $80.36 on Tuesday. The stock has a 50-day moving average of $84.35 and a two-hundred day moving average of $76.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.75 and a current ratio of 2.05. Fortive Co. has a one year low of $62.70 and a one year high of $87.10. The stock has a market cap of $28.24 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13.

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

Fortive Dividend Announcement

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. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, May 31st. Fortive’s dividend payout ratio (DPR) is 13.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FTV shares. Vertical Research lowered Fortive from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Barclays boosted their target price on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Truist Financial assumed coverage on Fortive in a research report on Thursday, March 14th. They issued a “buy” rating and a $99.00 target price for the company. Mizuho boosted their target price on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered Fortive from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $90.00 in a research report on Wednesday, April 17th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.54.

Insider Buying and Selling

In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fortive news, CFO Charles E. Mclaughlin sold 40,837 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $86.28, for a total value of $3,523,416.36. Following the sale, the chief financial officer now directly owns 61,855 shares of the company’s stock, valued at $5,336,849.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $82.17, for a total value of $739,036.98. Following the completion of the sale, the chief accounting officer now directly owns 20,564 shares in the company, valued at $1,689,743.88. The disclosure for this sale can be found here. Insiders have sold a total of 63,937 shares of company stock valued at $5,475,122 over the last ninety days. Company insiders own 0.95% of the company’s stock.

Fortive Company 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.