Fortive Co. (NYSE:FTV) Position Increased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. raised its position in shares of Fortive Co. (NYSE:FTV) by 12.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,650 shares of the technology company’s stock after buying an additional 824 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fortive were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FTV. abrdn plc lifted its position in shares of Fortive by 2.9% in the third quarter. abrdn plc now owns 165,769 shares of the technology company’s stock worth $12,293,000 after purchasing an additional 4,660 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Fortive by 34.2% in the fourth quarter. Nordea Investment Management AB now owns 527,199 shares of the technology company’s stock worth $38,828,000 after purchasing an additional 134,259 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its holdings in Fortive by 4.5% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 832,888 shares of the technology company’s stock worth $61,326,000 after buying an additional 35,688 shares during the last quarter. NewEdge Wealth LLC increased its holdings in Fortive by 12.4% in the fourth quarter. NewEdge Wealth LLC now owns 4,816 shares of the technology company’s stock worth $355,000 after buying an additional 531 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Fortive by 111.7% in the fourth quarter. Jennison Associates LLC now owns 1,176,655 shares of the technology company’s stock worth $86,637,000 after buying an additional 620,866 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fortive

In other Fortive news, 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 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 document filed with the SEC, which can be accessed through this hyperlink. In other Fortive news, CEO Tamara S. Newcombe sold 5,000 shares of Fortive 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 directly owns 55,017 shares of the company’s stock, valued at $4,676,445. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher M. Mulhall sold 8,994 shares of Fortive 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 directly owns 20,564 shares of the company’s stock, valued at $1,689,743.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,937 shares of company stock valued at $5,475,122. 0.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on FTV. Mizuho increased their price objective on Fortive from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Barclays increased their price objective on Fortive from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada dropped their price objective on Fortive from $93.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday. Citigroup dropped their price objective on Fortive from $101.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded Fortive from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $95.00 to $90.00 in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.46.

Fortive Stock Down 0.3 %

Shares of FTV stock opened at $75.97 on Friday. The stock has a market cap of $26.74 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13. Fortive Co. has a one year low of $62.77 and a one year high of $87.10. The stock has a fifty day moving average price of $83.83 and a 200 day moving average price of $76.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 1.75.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Fortive had a return on equity of 12.22% and a net margin of 14.68%. Analysts predict that Fortive Co. will post 3.8 earnings per share for the current year.

Fortive Dividend Announcement

The company 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 of this dividend is Friday, May 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Fortive’s dividend payout ratio (DPR) is currently 12.65%.

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.