Robeco Institutional Asset Management B.V. Boosts Holdings in Fortive Corporation $FTV

Robeco Institutional Asset Management B.V. boosted its stake in Fortive Corporation (NYSE:FTV) by 152.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 750,020 shares of the technology company’s stock after purchasing an additional 452,845 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Fortive were worth $36,743,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Fortive by 2.2% in the second quarter. Vanguard Group Inc. now owns 39,413,849 shares of the technology company’s stock valued at $2,054,644,000 after purchasing an additional 839,321 shares during the last quarter. Dodge & Cox raised its stake in shares of Fortive by 51.5% in the second quarter. Dodge & Cox now owns 33,173,605 shares of the technology company’s stock valued at $1,729,340,000 after buying an additional 11,273,242 shares during the period. Viking Global Investors LP lifted its position in shares of Fortive by 22.9% during the 2nd quarter. Viking Global Investors LP now owns 15,912,624 shares of the technology company’s stock valued at $829,525,000 after buying an additional 2,962,502 shares during the last quarter. State Street Corp lifted its position in shares of Fortive by 0.7% during the 2nd quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock valued at $738,013,000 after buying an additional 92,222 shares during the last quarter. Finally, Flossbach Von Storch SE grew its stake in shares of Fortive by 1.6% during the 2nd quarter. Flossbach Von Storch SE now owns 12,043,449 shares of the technology company’s stock worth $627,825,000 after acquiring an additional 189,027 shares during the period. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FTV shares. Morgan Stanley upped their price objective on shares of Fortive from $50.00 to $53.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Robert W. Baird upped their price target on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Truist Financial reiterated a “hold” rating and issued a $58.00 price objective (up from $55.00) on shares of Fortive in a research note on Thursday, October 30th. Zacks Research upgraded Fortive from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Mizuho reiterated an “underperform” rating and issued a $51.00 price target (down from $54.00) on shares of Fortive in a research report on Monday. Two research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fortive has an average rating of “Hold” and an average price target of $57.62.

Fortive Stock Down 2.4%

FTV opened at $54.13 on Thursday. The firm has a market capitalization of $17.19 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 3.12 and a beta of 1.13. Fortive Corporation has a one year low of $46.34 and a one year high of $83.32. The company has a fifty day moving average price of $53.33 and a 200-day moving average price of $51.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58.

Fortive (NYSE:FTV) last posted its earnings results on Monday, June 9th. The technology company reported $0.80 EPS for the quarter. Fortive had a return on equity of 12.04% and a net margin of 11.72%.The business had revenue of $1.07 billion during the quarter. Equities research analysts expect that Fortive Corporation will post 4.05 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, November 28th. Fortive’s dividend payout ratio is 13.71%.

Insider Transactions at Fortive

In other Fortive news, SVP Stacey A. Walker sold 2,192 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $50.35, for a total value of $110,367.20. Following the completion of the transaction, the senior vice president owned 59,488 shares of the company’s stock, valued at $2,995,220.80. The trade was a 3.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Fortive Company Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.