APG Asset Management N.V. Increases Stock Position in Fortive Co. (NYSE:FTV)

APG Asset Management N.V. lifted its holdings in Fortive Co. (NYSE:FTV) by 1,058.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,104 shares of the technology company’s stock after buying an additional 242,210 shares during the quarter. APG Asset Management N.V.’s holdings in Fortive were worth $19,201,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Brown Brothers Harriman & Co. increased its holdings in Fortive by 5.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,554 shares of the technology company’s stock worth $192,000 after acquiring an additional 127 shares in the last quarter. Wedmont Private Capital increased its stake in shares of Fortive by 4.3% in the fourth quarter. Wedmont Private Capital now owns 3,346 shares of the technology company’s stock worth $252,000 after purchasing an additional 137 shares in the last quarter. Dynasty Wealth Management LLC increased its stake in shares of Fortive by 1.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 14,436 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 142 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of Fortive by 13.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,400 shares of the technology company’s stock valued at $105,000 after purchasing an additional 165 shares during the period. Finally, Webster Bank N. A. lifted its stake in shares of Fortive by 6.6% during the 4th quarter. Webster Bank N. A. now owns 2,696 shares of the technology company’s stock valued at $202,000 after buying an additional 168 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Stacey A. Walker sold 5,688 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $80.52, for a total value of $457,997.76. Following the completion of the sale, the senior vice president now owns 47,141 shares in the company, valued at approximately $3,795,793.32. This trade represents a 10.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles E. Mclaughlin sold 32,085 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $78.86, for a total transaction of $2,530,223.10. Following the transaction, the chief financial officer now owns 76,126 shares in the company, valued at $6,003,296.36. The trade was a 29.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,385 shares of company stock valued at $19,508,529 over the last three months. 1.01% of the stock is owned by company insiders.

Fortive Stock Performance

Fortive stock opened at $67.88 on Thursday. The company’s 50-day moving average price is $75.83 and its 200-day moving average price is $76.46. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.33. The company has a market cap of $23.10 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.68 and a beta of 1.12. Fortive Co. has a twelve month low of $60.39 and a twelve month high of $84.03.

Fortive (NYSE:FTV) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the previous year, the company earned $0.98 EPS. On average, equities research analysts forecast that Fortive Co. will post 4.05 EPS for the current fiscal year.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Wednesday, April 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. Fortive’s dividend payout ratio is presently 13.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FTV shares. StockNews.com cut Fortive from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on Fortive from $90.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday. Truist Financial dropped their price target on Fortive from $90.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays cut their price objective on shares of Fortive from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company boosted their target price on shares of Fortive from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Fortive presently has a consensus rating of “Hold” and an average target price of $83.33.

Fortive 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.