Fortive Co. (NYSE:FTV) Shares Purchased by AIA Group Ltd

AIA Group Ltd increased its holdings in shares of Fortive Co. (NYSE:FTV) by 150.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,527 shares of the technology company’s stock after purchasing an additional 12,346 shares during the period. AIA Group Ltd’s holdings in Fortive were worth $1,511,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. lifted its stake in shares of Fortive by 5.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,865 shares of the technology company’s stock worth $214,000 after acquiring an additional 138 shares during the period. RFG Advisory LLC lifted its stake in shares of Fortive by 2.4% in the third quarter. RFG Advisory LLC now owns 6,618 shares of the technology company’s stock valued at $491,000 after purchasing an additional 153 shares during the period. Brighton Jones LLC lifted its stake in shares of Fortive by 5.3% in the third quarter. Brighton Jones LLC now owns 3,191 shares of the technology company’s stock valued at $237,000 after purchasing an additional 160 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Fortive by 4.9% in the third quarter. TCI Wealth Advisors Inc. now owns 3,505 shares of the technology company’s stock valued at $260,000 after purchasing an additional 165 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of Fortive by 17.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,120 shares of the technology company’s stock valued at $80,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Fortive Stock Performance

Shares of NYSE FTV opened at $80.18 on Friday. The company has a 50-day simple moving average of $84.47 and a 200-day simple moving average of $75.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 1.75. Fortive Co. has a 12 month low of $62.70 and a 12 month high of $87.10. The company has a market cap of $28.17 billion, a PE ratio of 32.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.13.

Fortive (NYSE:FTV) last released its earnings results 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 net margin of 14.27% and a return on equity of 12.12%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Fortive Co. will post 3.78 earnings per share for the current 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 given a $0.08 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. Fortive’s dividend payout ratio is presently 13.11%.

Wall Street Analyst Weigh In

FTV has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Fortive from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $90.00 in a research note on Wednesday. Vertical Research downgraded shares of Fortive from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Mizuho raised their target price on shares of Fortive from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 1st. Finally, Truist Financial assumed coverage on shares of Fortive in a report on Thursday, March 14th. They set a “buy” rating and a $99.00 target price for the company. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.54.

Insider Buying and Selling at Fortive

In other Fortive news, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Stacey A. Walker sold 9,106 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $86.50, for a total transaction of $787,669.00. Following the transaction, the senior vice president now directly owns 36,558 shares of the company’s stock, valued at $3,162,267. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive stock in a transaction on Friday, February 9th. The stock was sold at an average price of $82.17, for a total transaction of $739,036.98. Following the completion of the sale, the chief accounting officer now owns 20,564 shares of the company’s stock, valued at approximately $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. Corporate 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.