Mirae Asset Global Investments Co. Ltd. Buys 80,840 Shares of Fortive Corporation $FTV

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Fortive Corporation (NYSE:FTV) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 80,840 shares of the technology company’s stock, valued at approximately $4,431,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Fortive in the 1st quarter worth approximately $11,854,000. Sterling Investment Management LLC bought a new stake in Fortive during the 3rd quarter worth approximately $1,149,000. First Nebraska Trust Co bought a new stake in Fortive during the 1st quarter worth approximately $2,453,000. Deutsche Bank AG acquired a new stake in Fortive during the 2nd quarter valued at $99,326,000. Finally, Handelsbanken Fonder AB acquired a new stake in Fortive during the 2nd quarter valued at $7,212,000. 94.94% of the stock is owned by institutional investors.

Insider Transactions at Fortive

In other news, CAO Christopher Mulhall sold 17,962 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $65.56, for a total value of $1,177,588.72. Following the transaction, the chief accounting officer owned 44,598 shares of the company’s stock, valued at approximately $2,923,844.88. This trade represents a 28.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Peter C. Underwood sold 48,442 shares of the stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $64.60, for a total transaction of $3,129,353.20. Following the completion of the transaction, the senior vice president owned 79,118 shares in the company, valued at $5,111,022.80. This represents a 37.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 83,159 shares of company stock worth $5,371,093. Corporate insiders own 0.65% of the company’s stock.

Fortive Trading Down 0.1%

FTV traded down $0.05 during mid-day trading on Friday, reaching $65.37. The stock had a trading volume of 3,568,010 shares, compared to its average volume of 2,704,324. The firm’s fifty day simple moving average is $58.42 and its two-hundred day simple moving average is $58.94. The stock has a market capitalization of $19.46 billion, a P/E ratio of 31.13, a P/E/G ratio of 2.68 and a beta of 1.03. Fortive Corporation has a 52 week low of $49.99 and a 52 week high of $68.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.98 and a current ratio of 1.23.

Fortive (NYSE:FTV) last released its earnings results on Wednesday, October 28th. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Fortive had a return on equity of 15.79% and a net margin of 14.83%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Fortive Corporation will post 3.12 EPS for the current year.

Fortive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Shareholders of record on Friday, November 27th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 27th. This represents a $0.28 dividend on an annualized basis and a yield of 0.4%. Fortive’s dividend payout ratio is presently 13.33%.

Analyst Ratings Changes

FTV has been the subject of several research analyst reports. Weiss Ratings upgraded Fortive from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Citigroup increased their target price on Fortive from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Robert W. Baird set a $75.00 target price on Fortive in a research note on Thursday, October 29th. JPMorgan Chase & Co. lifted their price target on Fortive from $56.00 to $59.00 and gave the company an “underweight” rating in a report on Thursday, October 29th. Finally, Evercore started coverage on shares of Fortive in a report on Monday, September 28th. They set a “hold” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Fortive currently has a consensus rating of “Reduce” and a consensus target price of $64.36.

Fortive Profile

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company that develops and provides products, software and services designed to improve the productivity, safety, reliability and efficiency of businesses and public-sector organizations. Its offerings support customers in industries including manufacturing, healthcare, utilities, transportation, commercial facilities and government.

The company’s portfolio includes electronic test and measurement equipment, calibration and asset-management solutions, workplace and facility-management software, engineering and infrastructure software, product identification and traceability systems, and healthcare technology.