Mitsubishi UFJ Asset Management UK Ltd. trimmed its position in shares of Fortive Corp (NYSE:FTV) by 10.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,000 shares of the technology company’s stock after selling 5,000 shares during the quarter. Fortive accounts for approximately 2.2% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 15th largest holding. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Fortive were worth $3,111,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. North Star Asset Management Inc. boosted its holdings in shares of Fortive by 0.4% in the 2nd quarter. North Star Asset Management Inc. now owns 7,701 shares of the technology company’s stock worth $488,000 after buying an additional 32 shares during the last quarter. Princeton Portfolio Strategies Group LLC boosted its holdings in shares of Fortive by 1.6% in the 2nd quarter. Princeton Portfolio Strategies Group LLC now owns 5,568 shares of the technology company’s stock worth $353,000 after buying an additional 90 shares during the last quarter. J.P. Marvel Investment Advisors LLC boosted its holdings in shares of Fortive by 0.5% in the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 16,785 shares of the technology company’s stock worth $1,063,000 after buying an additional 90 shares during the last quarter. Profund Advisors LLC boosted its holdings in shares of Fortive by 1.4% in the 2nd quarter. Profund Advisors LLC now owns 7,801 shares of the technology company’s stock worth $494,000 after buying an additional 111 shares during the last quarter. Finally, Roundview Capital LLC boosted its holdings in shares of Fortive by 1.5% in the 2nd quarter. Roundview Capital LLC now owns 11,784 shares of the technology company’s stock worth $747,000 after buying an additional 175 shares during the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider James A. Lico sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $73.14, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now directly owns 166,014 shares in the company, valued at $12,142,263.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey A. Walker sold 4,775 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $72.49, for a total value of $346,139.75. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by corporate insiders.
Fortive (NYSE:FTV) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. Fortive had a return on equity of 31.67% and a net margin of 14.39%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. research analysts predict that Fortive Corp will post 2.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, November 24th were issued a $0.07 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. Fortive’s dividend payout ratio (DPR) is 10.57%.
FTV has been the topic of a number of research reports. Zacks Investment Research upgraded Fortive from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Tuesday, September 26th. SunTrust Banks reiterated a “buy” rating and set a $81.00 price target on shares of Fortive in a research report on Friday, October 27th. Argus upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Morgan Stanley restated an “equal weight” rating and issued a $72.00 price objective (up from $71.00) on shares of Fortive in a research report on Monday, October 2nd. Finally, ValuEngine lowered Fortive from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $72.70.
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Fortive Corporation is a diversified industrial growth company. The Company designs, develops, manufactures and markets professional and engineered products, software and services for a range of end markets. The Company operates through two segments: Professional Instrumentation and Industrial Technologies.
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