Asset Management One Co. Ltd. Increases Position in Fortive Co. (NYSE:FTV)

Asset Management One Co. Ltd. raised its position in shares of Fortive Co. (NYSE:FTV) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,618 shares of the technology company’s stock after buying an additional 2,390 shares during the period. Asset Management One Co. Ltd.’s holdings in Fortive were worth $11,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Fortive by 47.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock valued at $537,119,000 after acquiring an additional 1,999,792 shares during the period. Boston Partners lifted its position in shares of Fortive by 19.3% during the first quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after purchasing an additional 1,045,245 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Fortive by 78.0% in the second quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company’s stock valued at $63,221,000 after purchasing an additional 373,957 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Fortive by 1,053.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company’s stock valued at $28,359,000 after purchasing an additional 349,530 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Fortive by 27.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock worth $94,041,000 after buying an additional 273,168 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 171,808 shares of Fortive stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at $3,058,503.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Fortive news, SVP Stacey A. Walker sold 171,808 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $71.71, for a total transaction of $12,320,351.68. Following the transaction, the senior vice president now directly owns 42,651 shares of the company’s stock, valued at approximately $3,058,503.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan L. Schwarz sold 14,223 shares of Fortive stock in a transaction on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now owns 68,161 shares in the company, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,895 shares of company stock valued at $13,878,151 over the last quarter. Company insiders own 1.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on FTV shares. StockNews.com raised shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Mizuho upgraded Fortive from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $90.00 in a report on Friday, September 6th. Wolfe Research lowered Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Wells Fargo & Company decreased their price objective on Fortive from $82.00 to $77.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Raymond James upgraded shares of Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.20.

Fortive Stock Performance

Shares of FTV opened at $74.29 on Thursday. The company has a market capitalization of $25.77 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13. Fortive Co. has a 52-week low of $64.69 and a 52-week high of $87.10. The company has a quick ratio of 0.99, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $75.20 and a 200 day moving average price of $74.27.

Fortive (NYSE:FTV) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.55 billion. Fortive had a net margin of 14.35% and a return on equity of 12.56%. Fortive’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. Research analysts predict that Fortive Co. will post 3.85 EPS for the current fiscal year.

Fortive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. Fortive’s dividend payout ratio (DPR) is 12.75%.

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.